XZERES, a company engaged in the designing, developing and manufacture of power management and power saving devices, wind power systems and distributed generation systems for deployment in clean and renewable energy markets, declared that it has received a letter of intent from VG Energy, a Scotland, UK-based distributed wind energy trader, to buy wind turbines valued at a minimum of $5.0 million from XZERES during the next 15 months.
XZERES 442SR wind turbine. Credit: XZERES
As a part of the deal, XZERES has consented to offer VG Energy the exclusive rights to sell the products in certain parts of the UK on the condition to fulfill a minimum level of sales volume in those locations.
According to Frank Greco, CEO and President of XZERES, the company has unrelentingly worked for over 10 months in the profitable distributed energy market of the UK by demonstrating its MCS-certified wind power generating systems. The efforts of the company have climaxed by the way of receiving sales commitment from VG Energy, a leading dealer, who has the capability to handle volume sales of XZERES systems.
David N. Baker, VG Energy’s Chairman, stated that his company leads the wind turbine market of the UK in the 15-100 kW segment that has eligibility under the feed-in-tariff program with over 36% share and shared his excitement for entering into an accord with XZERES, a leading company in the market. He explained that the request of VG Energy for exclusive rights to some of the important areas in the UK depicts the capability of the company and its ability to produce sales results.