The wind turbines projects total approximately $86 million in total value. In addition to acting as the developer of the projects, Juhl will also provide construction oversight. Construction is planned to begin shortly and to be completed in a matter of months.
The Company first announced the development of these wind energy projects less than one year ago when it successfully secured the 20-year power purchase agreements (‘PPAs’) with Xcel Energy, the electric utility based in Minneapolis, MN.
‘Taken together, these two projects amount to the largest construction Juhl will oversee to date and represent the continued growth of the Company,’ stated Dan Juhl, Chairman and CEO of Juhl Wind, Inc. ‘We are very pleased to show the marketplace that we continue to have the wherewithal to develop projects, secure PPAs, arrange construction financing and get projects built. Along with the recent launch of our Winona County project, we now have three projects well underway in 2010. While a significant amount of project costs do not flow through Juhl as revenue, these projects still provide us with a mix of development fee and construction revenue leading to a very strong fourth quarter for the Company. We look forward to announcing the official startup of construction at these sites.’
The Adams and Danielson Wind farms are typical of Juhl Wind’s community-owned wind farm projects. The wind energy projects consist of a locally-controlled LLC made up of Meeker County residents and institutional financial partners.
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 management and system operations and maintenance.
With its acquisition of Next Generation Power Systems (‘NextGen’), Juhl Wind also 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.