The Woodstock Municipal system was a $1.8 million project utilizing a direct drive, .75 MW EWT wind turbine.
WOODSTOCK, Minn., PRNewswire-FirstCall [WorldofRenewables.com]
Juhl Wind Inc. (OTC Bulletin Board: JUHL), the Leader in Community Wind Power, today announced the recent completion and startup of the $1.8 million Woodstock Municipal wind system.
“Woodstock Municipal was one of two wind farms we constructed in the past six months and we are very pleased with how it has turned out,” stated Dan Juhl, Chairman and CEO of Juhl Wind Inc. “While this is one of our smaller systems, it is representative of a niche in the market that we believe we can serve very effectively – wind farms and systems designed to serve local municipal authorities through a unique form of community based, local ownership. In fact, we will soon announce a much larger project utilizing this structure.”
The Woodstock Municipal system was a $1.8 million project utilizing a direct drive, .75 MW EWT wind turbine. The project has already secured long-term debt through First Farmers bank of Pipestone, MN. In addition the project has also applied for a U.S. stimulus grant which is expected to be obtained in the next 60 to 90 days. The project is operated under a 20-year power purchase agreement with Xcel Energy. Juhl Wind provided full development, construction and startup services on the wind system. Juhl is expected to provide long-term system administration and maintenance.
“Growth in the wind industry has been dramatic over the past several years and Juhl Wind intends to continue as a leader in our part of the industry with wind projects like Woodstock,” added John Mitola, President of Juhl Wind. “During a tough economy in 2009, we were one of the only developers to successfully build wind farms by arranging the construction financing for our Grant County Wind farm and the Woodstock Municipal project. Those transactions enabled us to begin and complete construction of both of those systems in the first half of 2010. We are finalizing the details of our 2010 projects at this time and we expect to be providing additional information on our 2010 construction plan shortly.”
About Juhl Wind Inc.
Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada. Juhl Wind pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has completed 16 wind farm projects and provides operations management and oversight across the portfolio. Juhl Wind services every aspect of wind farm development from full development and ownership, general consultation, construction and system operations and maintenance. With its acquisition of Next Generation Power Systems, Juhl Wind now provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. Juhl Wind is based in Woodstock, Minnesota and is traded on the OTCBB under the symbol JUHL. Additional information is available at the Company’s website at www.juhlwind.com or by calling 877-584-5946 (or 877-JUHLWIN).
FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Wind‘s current expectations about its future results, performance, prospects and opportunities. Juhl Wind has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “hope,” or similar expressions. These forward-looking statements are based on information currently available to Juhl Wind and are subject to a number of risks, uncertainties and other factors that could cause Juhl Wind‘s actual results, performance, prospects or opportunities in the remainder of 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks are referenced in Juhl Wind‘s current 10K or as may be described from time to time in Juhl Wind‘s subsequent SEC filings; and such factors as incorporated by reference.
SOURCE Juhl Wind Inc.