Affinity Wind Closes JV Agreement with wind energy Suzlon

Affinity Wind, LLC, a St. Louis based wind energy development company, today announced that it has formally closed its joint venture agreement with Suzlon Wind Energy Corporation, based in Chicago, IL and a subsidiary of Suzlon Energy Limited of Pune, India.

Through the joint venture entity, which is called Surity Wind, LLC, Suzlon will co-develop with Affinity Wind its 150 MW wind farm project located in Illinois, as well as similar joint development of future Affinity Wind farm projects. Suzlon will also be responsible for wind turbines supply to this first wind farm, and potential future projects.

Utilizing the latest Jobs and Economic Development Impact (JEDI) model available from the National Renewable Energy Laboratory, the 150 MW Illinois wind farm will create the following economic benefits:

* Over $44 million of local spending would occur during construction, plus another $3 million annually once operational.
* Annual property taxes of over $1 million would be generated, along with several hundred thousand dollars in yearly lease payments to landowners.
* Direct spending and property tax assessment for the typical 30+ year life of plant alone account for over $175 million.
* During construction, there would be approximately 600 total jobs created

Trey Goede, Chief Executive Officer of Affinity Wind, stated, “We are excited to close on our joint venture with this world class wind turbine manufacturer. We look forward to making this relationship a long-term ‘win’ for both partners, and anticipate that our Illinois project will be the first of many we successfully develop together.” Jeff Sanders, Chief Financial Officer of Affinity Wind, added, “Creating this joint venture represents a critical milestone for Affinity and Suzlon’s commitment of resources and expertise will facilitate development of our Illinois project, including the commercial operation of its initial phase in 2011.”

“Suzlon is thrilled with the progress we are making alongside Affinity and continuing our partnership for a successful implementation of the Illinois wind farm,” said Andris Cukurs, CEO of Suzlon Wind Energy Corporation.

Affinity Wind, LLC was formed in 2008 and is an independent wind energy company, focused exclusively on the development of utility-scale wind energy projects. Affinity is currently developing a 150 megawatt project in Illinois. Affinity expects the Illinois project to be the first of several similar wind energy projects that it will develop over the coming years throughout the Midwest.

Suzlon Group ranked as the world’s third* leading wind turbine supplier in terms of market share in 2009. Suzlon has its corporate headquarters – Suzlon One Earth – in Pune, India. The company’s global spread reflects in its projects and markets portfolio – extending across Asia, Australia, Europe, South Africa and North and South America.

Suzlon is a highly vertically integrated wind turbines manufacturer with manufacturing capability along the full value chain – from components to complete wind turbine systems. The Group has installed over 15,000 MW of wind energy capacity in 25 countries, established operations across 32 countries, with a workforce of over 13,000 personnel.

Suzlon was recognized with the Gigaton Award for global leadership in emissions control and sustainability practices in the energy at the COP16 summit in Cancun, Mexico. Suzlon was also ranked as a prestigious ‘Business Superbrand’ ranking in 2010 for the second time. Suzlon has a share of over 90 per cent in REpower, and taken together, have a combined market share of 9.8 per cent.