Worcester Green Energy Firm Plans Retail Division
Worcester-based Mass Megawatts Wind Power Inc. today announced plans to begin selling electricity to customers in the Northeast region.
The company said in a statement that it will begin offering electricity plans to customers in December at a discount of about 10 percent below current rates, and those plans will be available to 90 percent of customers in the region
Founded in 1997, Mass Megawatts owns wind generators but has struggled to make money. The public company has reported losses for the last five years, though those have decreased since 2009.
Mass Megawatts began marketing the retail division at the beginning of this month. The company believes it is "a logical, strategic progression that diversifies their business model while improving future earnings potential," according to the statement.
At the same time, Mass Megawatts plans to increase production of its new, patented wind augmentation units to support future growth. Most recently, the company completed one of the systems in Charlton, which it says employs a cheaper, less complicated wind-focusing technique to generate more electrical power.
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