Juhl Wind awarded US$1.4M stimulus grant for recently completed US$4.8M Winona County Wind Project in Minnesota; grant proceeds go toward payment of construction costs
January 4, 2012
– Juhl Wind Inc. (OTCBB: JUHL), the Leader in Community Wind Power, today announced the receipt of approximately $1,413,000 in U.S. Stimulus Grant funds for its recently completed $4.8 million Winona County Wind Project in Winona County, MN. The grant was issued by the U.S. Treasury Department in accordance with the American Recovery and Reinvestment Act of 2009. The proceeds of the grant primarily went toward payment of construction costs for the project, now owned by the company's Juhl Renewable Assets Inc. subsidiary.
The Winona County Wind project was completed and put into commercial operation in the fourth quarter 2011. It is one of six wind farm projects that Juhl Wind has completed in the past 24 months, together these properties represent over $150 million in project development. It is one of the first sites in North America to utilize two Unison, direct-drive wind turbine generators – a leading technology based on an advanced, gearless system. The project was developed and constructed by Juhl Energy Development Inc., the wholly-owned, development subsidiary of Juhl Wind Inc., with initial project participation by the Winona County Economic Development Authority.
"We are very proud to once again have another one of our projects successfully participate in the U.S. Stimulus Grant program," stated Dan Juhl, Chairman and CEO of Juhl Wind, Inc. "The U.S. Stimulus program has provided very important support for the continuing growth of our Community Wind projects throughout the Midwestern United States. Community-owned wind farms not only deliver a totally clean and low-cost energy resource, but also help truly secure our U.S. energy future by keeping the ownership of this resource in the hands of American farmers and landowners. To us at Juhl Wind, this seems like the right place for our tax dollars to be put to work. As a result of this program, we have been able to get our community wind projects financed in the face of a very difficult recession, creating tangible short and long-term economic development in the heart of rural America. Accordingly, we are pleased to have created construction jobs and permanent work while at the same time helping to secure our energy future."
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 21 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 consolidation of the Valley View, Winona County and Woodstock Hills wind farms, the Company has now invested in and operates 21.7 MWs of wind power. Through its Next Generation Power Systems subsidiary ("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 Pipestone, 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).