Goldman Sachs Makes Significant Investment in Nordic Windpower

SAN RAFAEL, Calif. & QUEBEC CITY & LONDON--(BUSINESS WIRE)--Nordic Windpower Ltd., a leading manufacturer of two-bladed utility-scale wind turbines, announced today that Goldman Sachs, one of the world’s largest investment banks, has made a significant investment in the company.

“Goldman Sachs has helped grow major wind energy companies such as Nordex and Horizon. Its commitment and backing is a great endorsement of Nordic’s technology and potential.”

The investment marks a major new phase in Nordic’s growth as it prepares to start U.S. production of its innovative and field-proven turbines for utilities, and large and small developers. The new money enables Nordic to fulfill growing demand for low-cost, high-reliability wind turbines at a time when the industry faces persistent supply constraints.

Steve Taber, Nordic Windpower CEO, said, “We are delighted to attract Goldman Sachs, one of the world’s leading wind industry investors, as a key shareholder. The investment will enable Nordic Windpower to become a market and technology leader in the $20 billion global wind energy industry. It provides Nordic with the resources to deliver its turbines as early as 2008 and focus on high-growth markets globally.”

Jim Walker, Nordic Windpower co-founder and president-elect of the American Wind Energy Association said, “Goldman Sachs has helped grow major wind energy companies such as Nordex and Horizon. Its commitment and backing is a great endorsement of Nordic’s technology and potential.”

The terms of the investment were not disclosed.

Nordic was advised by Verte GBS, www.verte-gbs.com, specializing in the environmental sector.

About Nordic Windpower

With offices in California, Sweden and London, Nordic Windpower manufactures and sells competitively priced and highly reliable utility-scale wind turbines to large and small developers and community wind projects worldwide. With 10 years of trouble-free operations, Nordic’s innovative flexible technology is the result of a 30-year investment by the Swedish government and European Union. Visit www.nordicwindpower.com or call toll-free (US) 888 322 2080 or [phone].

About Goldman Sachs

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in other major financial centers worldwide.