Company appoints additional key executives as customer base rapidly expands
Brooklyn, NY – April 9, 2014 – United Wind has named Aaron Lubowitz as Chief Operating Officer to help implement the company's ambitious expansion plans in the alternative energy industry. United Wind is first-to-market with its WindLease™ platform, which provides little-to-no money down financing for small wind systems to residential and commercial property owners nationwide. As COO, Mr. Lubowitz will focus on managing day-to-day operations of the company as well as define and lead its capital markets efforts.
Mr. Lubowitz has more than two decades of experience in the financial services industry and brings a wealth of knowledge related to renewable energy investing to United Wind. In his role as COO, in addition to his managerial responsibilities, Mr. Lubowitz will help raise capital for and structure project financing transactions for United Wind and its investment partners, adding insight from his 17-year career at Morgan Stanley.
While at Morgan Stanley, Mr. Lubowitz was global co-head of the company's Global Structured Products Group, founder of its renewable energy tax equity investment business and an early stage investment backer of both SolarCity and Brightsource Energy, where he served as a Board member. Mr. Lubowitz will also pull from his experience as founder of his own investment and advisory firm, Alternative Capital Partners, LLC, which since 2009, has successfully raised or invested in excess of $500MM of structured equity capital predominantly into real estate and renewable energy transactions.
"We are thrilled to welcome Aaron at this very exciting and pivotal time for United Wind," said Russell Tencer, co-founder and CEO. "We are now able to offer low-cost, hassle-free, wind energy-generated electricity as an alternative to millions of property owners, and Aaron will help us capitalize on the opportunity in this market. Aaron's significant operating and renewable energy finance experience will strengthen United Wind's operational base as well as broaden our access to capital to meet growing customer demand for our WindLease product."
United Wind has been growing rapidly. In mid-2013, the company closed a $25 million tax equity financing commitment, a first for residential and small-scale commercial distributed wind. Now with a sharp increase in customer demand for WindLease, United Wind is on track to meet projections for upwards of $75 million in projects by the end of 2014.
"I'm pleased to join United Wind at this exciting time in the company's history and take a proven business model to the next level by bringing in new investors to help sustain the significant momentum already generated. United Wind's existing portfolio of projects, in addition to its unique wind analysis technology for micro-siting potential customer sites, gives the company a significant first mover advantage in the distributed wind marketplace," said Mr. Lubowitz. "From an investment perspective, on the corporate side, investors can still enter at attractive valuation levels and the project side, we have a highly competitive tax-advantaged financial product. I'm looking forward to working alongside Russell, our highly skilled team and all of United Wind's investment partners to generate above market returns for all parties involved."
To further support its rapid growth, United Wind has also named Stuart Adler, formerly with Vestas, as Head of Projects to oversee all project development and maintenance for the company, and Alex Potier formerly with Broadwind, as Vice President of Business Development to oversee the strategic development and implementation of the company's sales process. The company has also appointed David Arfin, a former VP Customer Finance and VP Strategy with SolarCity, to its Board of Advisors.
About United Wind
United Wind is a leading wind energy developer that sells or leases small wind systems to residential, commercial and agricultural clients nationwide. With its revolutionary WindLease™ product, United Wind empowers customers to cut electricity bills, protect against the unpredictability of utility rates and be proactive in consideration of the environment. For more information about how your home or business can take advantage of WindLease, please visit www.unitedwind.com or call 1-800-448-2526.