WOODSTOCK, Minn., March 21, 2011 /PRNewswire/ -- Juhl Wind, Inc. (OTC Bulletin Board : JUHL ), 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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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.
SOURCE Juhl Wind, Inc.