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Death of independent developer not close

While industry consolidation has diminished the ranks of independent wind power developers in the US, they are unlikely to disappear from the scene. "The current crop of independents is certainly on its way out, but I don't think independents are going to disappear. The market is just too big," Brian Bolster of Goldman Sachs told last month's Windpower 2007 conference in Los Angeles. He likened the situation to the oil and gas industry, where smaller players operate in their own niches. "The markets are so different here from state to state and the wind regimes are so different and the technologies that could be used are different, that while the independent class that started two or three years ago is beginning to mature and move on, I think we will continue to see new independents. There is a lot of seed capital running around in this business. I am not worried that the independents will go away." He listed the current independent developers operating in the US as UPC, Noble, Invenergy, Catamount and Airtricity. Bolster was involved in shaping the transaction which saw Horizon Wind Energy sold to Energias de Portugal three months ago.

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