A mighty wind: Northern Power Systems files for a $30 million US public offering

Northern Power Systems, which designs, manufactures and licenses next-generation wind turbines, filed on Monday with the SEC to raise up to $30 million in a US initial public offering. Its stock is thinly traded on the Toronto Stock Exchange under the symbol NPS, and the company commands a market value of about $50 million.

The most recent alternative energy IPO, Sky Solar Holdings (SKYS), raised $44 million in November and has since traded up 39% to just above the midpoint of the original range. 

The Barre, VT-based company, which was founded in 2008 and booked $52 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol NPS. Northern Power Systems initially filed confidentially on December 11, 2014. Needham is the sole bookrunner on the deal. No pricing terms were disclosed.