Juhl Wind, Inc. to Install Wind Energy Facility for Honda Plant in Ohio $8 Million Project Will Supply Honda Manufacturing Facility with Clean, Renewable Energy
PIPESTONE, Minn., Jan. 28, 2013 /PRNewswire/ -- Juhl Wind, Inc., (OTCQB: JUHL), an established leader in the renewable-energy industry with a focus on Community-based Wind Power development, ownership and management, is pleased to announce an agreement with Honda Transmission Mfg. of America, Inc. to develop, install and operate two utility-scale wind turbines that will generate electricity for the plant in Russell's Point, Ohio.
Juhl Wind is providing full development services along with construction management of the $8 million project, which is scheduled to be completed in 2013. Juhl acquired the development asset from Boulder, Colorado-based NexGen Energy Partners in 2011, and Juhl is expected to take ownership in the project under its Juhl Renewable Asset subsidiary. Juhl will be providing oversight of the construction and ongoing operation of the turbines.
Corey Juhl, Juhl Wind's vice president of Project Development comments, "We are very pleased and honored to partner with Honda on this industry-leading initiative. The Honda Wind Project represents a growing niche within our renewable energy development services, which includes installing 'behind the meter' wind and solar facilities for large industrial electricity users and corporate clients. Our goal is to continue to grow this sector of our business by providing quality development services to companies that are looking to utilize renewable energy at their planned or existing facilities."
Once the turbines begin operating later this year, the Honda transmission plant will be the first major automotive manufacturing facility in the United States to obtain a substantial amount of its electricity directly from wind turbines located on its property. The turbines, with blades approximately 160 feet long, will be installed on 260-foot towers on Honda Transmission property, which is suited for a maximum of two wind turbines.
An evaluation of the project shows that renewable energy from the two wind turbines will supply approximately 10 percent of the plant's electricity, while also reducing CO2 emissions. Studies commissioned by Honda Transmission indicate that wind-generated power is a cost-effective source of electricity for the plant, and that the project will not adversely impact local wildlife or the environment.
Honda Transmission vice president Gary Hand said: "This is just one of many ways that Honda is seeking to reduce our environmental footprint, and we appreciate the experience and knowledge that Juhl Wind is bringing to this unique wind-generation project. In our own ways, both Honda and Juhl are committed to reducing CO2 emissions."
Globally, Honda has established voluntary goals to reduce the environmental impact of its products and manufacturing operations by 2020. This includes a 30 percent reduction in CO2 emissions from Honda products, and significant CO2 reductions from the company's plants and other operations, compared with year 2000 levels. To achieve these new environmental targets, Honda is accelerating its efforts to advance the environmental performance of its products and operations throughout its North American Region.
There are hundreds of manufacturing facilities similar in size to Honda's transmission plant across the country that are candidates for alternative-energy resources such as wind and solar, Juhl said. As a recognized industry leader and proven developer of over 237 MW's of wind power to date, Juhl is well positioned to acquire additional projects throughout the country to assist in the reduction of our manufacturing carbon footprint and the diversification of our national energy policy.
Honda Motor Company, Ltd. (NYSE: HMC) established operations in America in 1959, and now employs more than 26,000 associates in its U.S. sales, R&D and manufacturing operations with a capital investment of more than $12.5 billion. Based on its longstanding commitment to "build products close to the customer" Honda operates 14 major manufacturing facilities in North America, producing a wide range of Honda and Acura automobiles, automobile engines and transmissions, Honda all-terrain vehicles, and power equipment products such as lawn mowers, mini-tillers and general purpose engines, using domestic and globally sourced parts. Honda also operates major research and development centers in the U.S. that fully design, develop and engineer many of the products Honda produces in North America.
About Juhl Wind, Inc.
Juhl Wind, Inc. is an established leader in the renewable energy industry with a focus on Community Based Wind Power development, ownership and management throughout the United States and Canada. Juhl Energy 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 22 wind farm projects and provides operations management and oversight across the portfolio. Juhl Energy services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance. With its consolidation of the Valley View, Winona County and Woodstock Hills wind farm; the Company has now invested in and operates 21.7 MWs of wind power through its independent power producer ("IPP") subsidiary, Juhl Renewable Assets, Inc. Through its subsidiary, Juhl Renewable Energy Systems, Inc. ("JRES"), the Company also provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. With its acquisition of Power Engineers Collaborative, Juhl provides a full range of engineering services to the energy industry, building systems markets and heavy industry. Juhl Energy is based in Pipestone, Minnesota and has offices in Chicago, Minneapolis, Madison and Milwaukee. Juhl 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 (507) 562-8090.
For more information, contact:
Juhl Wind Investor Relations
Phone: (888) 438-JUHL (888-438-5845)
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 Energy's current expectations about its future results, performance, prospects and opportunities. Juhl Energy 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 Energy and are subject to a number of risks, uncertainties and other factors that could cause Juhl Energy's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to any specific projects, prospective acquisitions and wind farm assets mentioned herein. These risks are referenced in Juhl Energy's current 10K or as may be described from time to time in Juhl Energy's subsequent SEC filings; and such factors as incorporated by reference
SOURCE Juhl Wind, Inc.