American Wind Capital Acquires Operational Wind Farm in Tehachapi, California

OLD SAYBROOK, Conn., July 14, 2011 /PRNewswire/ -- American Wind Capital Company (AWCC), an investor in wind royalties, renewable energy project real estate, and renewable energy projects, today announced the acquisition of ON Wind Energy, LLC and several additional turbines (9MW in total), in Tehachapi, CA., from Oak Creek Energy Systems, Inc. (OCES), a California based developer that is majority owned by Marubeni Corporation.  The transaction included a significant wind royalty cash flow.  This is the second transaction between the parties; a previous deal was closed in 2010.

AWCC also announced a minority investment in Grant County Wind, a 20MW project in Minnesota in which AWCC partnered with Olympus Power.

"These milestones represent material advancements for our company," said AWCC's CEO Charles Hinckley. "This business expansion reflects our broadening interest in investing in renewable projects and renewable-related real estate."

About American Wind Capital Company

AWCC is funded by the Barclays Natural Resource Investments ("BNRI") division of Barclays Capital, the investment banking division of Barclays Bank PLC and NGP Energy Technology Partners ("NGP ETP"), a leading private equity firm focused on the energy technology sector, and individual investors. For more information about AWCC, see: www.americanwindcapital.com, or call (877) 669-2922 toll free.

About Oak Creek Energy Systems, Inc.

OCES, located in Escondido, California is a wind energy pioneer and industry leading wind energy facility developer. They began as one of the first wind farms to be built in the Tehachapi/Mojave wind pass in California in early 1982 and continue today with the development of world-class projects throughout the United States and Canada. The company has long played an active role in the wind energy industry.

About Marubeni Corporation

Marubeni is one of the leading Japanese trading firms, founded in 1949, and operates in various industries from textile to exploration of natural resources to energy.  Among 13 business divisions in Marubeni's organization, the Power Projects & Infrastructure Division is one of its core divisions and the investment in overseas independent power generation projects is identified as a Growing Core Business. Marubeni's Power Projects & Infrastructure Division investments include over 26,000 MW (gross) of Domestic and Overseas Projects, including wind energy projects.

About Olympus Power

Olympus Power, LLC, is a privately held U.S. independent power company based in Morristown NJ. Olympus owns and manages power plants that sell electricity and thermal energy to utilities and industrial concerns.

SOURCE American Wind Capital Company