DeWind acquires 20-MW Frisco wind project in Hansford County, Texas, from local developer Distributed Wind Systems; facility scheduled to begin commercial operation by year's end

Yohana Valdez

IRVINE, California , April 12, 2011 (press release) – Wind Farm to Utilize Proven DeWind 2MW D8.2 Wind Turbine Renewable Energy Technology

DeWind Co, a wholly owned subsidiary of Daewoo Shipbuilding and Marine Engineering Co. Ltd (DSME) (SEO:042660), announced today that it recently acquired the rights for the 20 MW Frisco wind project, located in the northern-most portion of Hansford County, Texas, from local developer Distributed Wind Systems LLC, of Guymon, Oklahoma. The 20 MW Frisco project is the latest addition to the DeWind renewable energy project portfolio in the Northern Texas Panhandle region, where the nearby 20 MW Little Pringle project, built and owned by DeWind, has been in operation since fall 2010. DeWind will install 10 of its already-proven 2 MW D8.2 wind turbines at the Frisco site, which is scheduled to be in commercial operation by the end of 2011. The D8.2 turbines will be furnished from DeWind assembly contractor TECO-Westinghouse located in Round Rock, Texas.

Robert Rugh, President and CEO of DeWind, added, “The Frisco acquisition is a continuation of the program set in place at the time DSME initially acquired DeWind, that is, to establish a healthy wind turbine business in the US for DeWind, and set the foundation for future growth to meet the long-range objectives set by DSME. The project will provide green jobs in the community, and provide clean energy to local residences, commerce and industry when it enters commercial operation, providing win-win results for this project.”

“We are excited to be working with DeWind on this and other project opportunities,” said Jay Lobit, President of Distributed Wind Systems. “We look forward to further assisting DeWind as it proceeds with implementing its vision of quickly becoming a major force in the US Wind industry.”

The 2 MW DeWind D8.2 wind turbine model, first installed in 2007, is based upon proven DeWind 2 MW wind turbine technology. DeWind’s heritage in the 2 MW class dates back to 2002 when the first DeWind 2 MW wind turbines entered commercial operation. The grid-friendly design of the D8.2 uniquely provides grid-support capability to all grid applications. In the past, DeWind turbines have been installed in environments ranging from sea level to high elevations in excess of 14,000 ft., in climates from desert heat to extreme cold. Currently, DeWind 2 MW turbines are installed and operating in numerous locations in Europe, Asia, South America and the US.

About DeWind Co: DeWind Co designs, produces and sells DeWind series wind energy turbines, including the 2 megawatt (MW) D8.2 and D9.2 models available in 60 Hz configuration, and the 2 MW D9.1 model in 50 Hz configuration. The D9.2 utilizes advance WinDrive(R) hydrodynamic torque converter developed by Voith AG in combination with a fixed speed synchronous AC generator with high voltage output that can be connected directly to the grid without the use of power conversion electronics. For more information, visit www.dewindco.com

About DSME: DSME, established in 1973, is the world’s second largest shipbuilder. The DSME product portfolio includes commercial ships such as LNG carriers, oil tankers, containerships, LPG carriers, pure car carriers, offshore structures such as FPSO (Floating Production Storage & Offloading) vessels, drilling rigs, drill ships and fixed platforms; and naval vessels including submarines, destroyers, rescue ships and patrol boats. For more information, visit www.dsme.co.kr

About Distributed Wind Systems: Distributed Wind Systems LLC is a commercial-scale wind energy development company headquartered in Guymon, Oklahoma. Distributed Wind Systems and its affiliated companies, Great Plains Windpower and Novus Windpower, have been actively engaged in wind project development in the area around Guymon since late 2001. Distributed Wind Systems has successfully developed and sold the rights to several wind projects totaling 120 MW, all of which will be in operation by the end of 2011. For additional information, visit www.novuswind.com.

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