"Balanced expert perspective available fromour huge archive dating back to 1985"
Kenetech's Alderson returns to wind
1 September 1997
The former CEO of Kenetech Windpower, Gerald Alderson, has re-entered the wind business. Alderson confirms he has founded National Kilowatt together with Alexander "Hap" Ellis, formerly Kenetech Windpower's vice president of marketing. The new company is a "Delaware corporation," according to Alderson, but he declined to detail its activities other than to say it intended "to have a renewable component." On whether National Kilowatt would operate as a marketer of "green power," Alderson said its activities are "not limited to that. The market will tell us if green marketing is the right thing to do or not." Regarding National Kilowatt's plans to acquire Kenetech 50-100 turbines still operating in the Altamont Pass, Alderson said the machines are still owned by bankrupt Kenetech Windpower. "We are one of several parties interested in the assets," he said. "The court process is proceeding. We don't own the assets. So what we would do with contracts and output is pure speculation." He added: "All we have is plans." Alderson acknowledged, however, that National Kilowatt had "raised equity from individuals and institutions." He would not identify investors, revealing only that "some were with Kenetech, some were not." But he assured that National Kilowatt "has enough equity to do real stuff."
Have you registered with us yet?
Register now to enjoy more articles and free email bulletins.