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Juhl Wind, Inc.
Announces Completion of Construction for the Danielson Wind Project in
Central Minnesota
WOODSTOCK, Minn., March
21, 2011 /PRNewswire/ -- Juhl Wind, Inc. (OTC Bulletin Board:JUHL.ob -
News), the Leader in Community Wind Power, today announced the recent completion
of construction and official commercial operation date of another utility
scale wind project in Meeker County, MN near the city of Atwater. The Danielson
Wind Project (19.8 MW) cost approximately $42 million and was completed
on time and under budget. This facility was built in conjunction with the
Adams Wind Project (19.8 MW), also located in Meeker County, MN.
Juhl Wind served as the developer and owner's representative for the construction
phase for both of the two projects.
Juhl Wind first announced
the development of the Danielson Wind Project in December 2009 and subsequently
announced the startup of construction in October 2010. The
Danielson Project will consist of 12 Alstom ECO 86 Wind Turbines and will
sell the clean energy to Xcel Energy under the terms of a 20 year, 19.8
MW Power Purchase Agreement. The wind farm incorporates one of Juhl
Wind's "Community Wind" structures in which ownership is shared with the
local residents and farmers who own the land that the project is located
on.
"We are very pleased
with the startup and initial operation of the Alstom ECO 86 wind turbines
and expect a very solid long-term operation," stated Dan Juhl, CEO of Juhl
Wind, Inc. "For Juhl as a company, Danielson is one of six projects
we have been developing and constructing in the past couple of years.
We recently announced the sale of our 20 MW Grant County wind farm, completion
of the Adams Wind Project and we expect to wrap up our other projects in
the next few months. Taken together, we believe this group of projects
will result in very strong financial performance for our company in 2011
and will put us in a very strong position for the next few years of our
growth."
"We appreciate the opportunity
to work with Dan Juhl and his team in order to bring the proven performance
and environmental benefits of Alstom's technology to this project." Andy
Geissbuehler, Vice President and General Manager Alstom Wind Business North
America.
"As we have pointed out
in our last couple of announcements, the Danielson project represents the
success we have had in moving 6 major project forward in the past couple
of years," added Juhl Wind, Inc. President John Mitola. "In spite
of the 2008 recession, we found a way to move almost $150 million in projects
forward and we are pleased we are beginning to see the financial results
and the project outcomes we targeted at the outset. We believe this
level of performance puts Juhl into a class by itself when compared to
other independent developers of wind power."
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
18 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'. Additional
information is available at the Company's website at www.juhlwind.com or
by calling 877-584-5946 (or 877-JUHLWIN).
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Juhl Wind Investor Relations
Jody Janson
Phone: (888) 438-JUHL
(5845)
Email: jody@istockdaily.com
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 2011 and beyond to differ materially
from those expressed in, or implied by, these forward-looking statements
and specifically those statements referring to the projects mentioned herein.
New projects are subject to large, third party risks that may not be in
control of Juhl Wind including the timing of funding and actual construction.
While the wind farms noted above are large-scale construction projects
Juhl Wind will not be the primary contractor for the provision of certain
services, as it is in certain of its other projects. These risks
are referenced in Juhl Wind's current 8K or as may be described from time
to time in Juhl Wind's subsequent SEC filings; and such factors as incorporated
by reference. |