United States

United States

Midwest developer Navitas Energy turns investor

Navitas Energy's Greg Jaunich wants to expand his investments in wind power to projects he does not directly develop. The entrepreneurial Jaunich says talks with other developers have revealed a need for more capital for US wind projects. He is now combining resources with financial institutions to step up to the table as an equity investor. He has some wind projects in mind, but declines to talk about them as yet. Nor will he say who his equity partners are except that they include a variety of North American venture capitalist and energy equity funds interested in viable wind projects. He says they are attracted to other energy sources as well, but the main one right now is wind. "We've invested our own capital and through that capital raising we've identified other investors who want to work through us," Jaunich says. Navitas will identify and screen projects to make sure they meet financial and project performance targets. Navitas now has 75 MW of installed wind in the US and is working on 650 MW of a combination of wind and natural gas projects it expects to bring on-line this year and next.

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