WOODSTOCK, Minn., Nov. 3 /PRNewswire-FirstCall/ -- Juhl Wind Inc. (OTC Bulletin Board: JUHL), the Leader in Community Wind Power, today announced the recent execution of a 20-year, 19.8 MW Power Purchase Agreement between Adams Wind Generations, LLC ("Adams") and Xcel Energy, the electric utility based in Minneapolis, MN. The Adams Wind Generations, LLC project will be a community-owned and operated, wind-driven electrical energy generation facility with plans to utilize twelve large wind turbines at an estimated cost of approximately $46 million. The project is a similar project to Juhl''s recently announced Danielson wind farm.
The Adams project is located in Meeker County in West Central Minnesota and will consist of a locally controlled LLC made up of Meeker County residents and a to-be-determined equity partner. Juhl Wind Inc. has been assisting the local owners in the development of the project since the spring of last year and led the team to win a competitive request-for-proposal (RFP) issued by Xcel Energy. Juhl Wind helped the Adams group win its RFP at the same time that the Company helped the Danielson group win an identical contract with Xcel. Juhl is forecasting that the Adams Wind Farm will commence initial operations in the 4th quarter of 2010. Juhl Wind will continue to serve as the project''s developer and contractor.
"The establishment of the Adams Wind Farm project continues to reinforce our belief that there exists strong demand in the market for Community Wind farms," stated Dan Juhl, CEO of Juhl Wind. "Our business model makes sense for all parties involved, from providing the local utilities with renewable, clean energy resources, to providing local employment opportunities and additional ''cash crop'' revenue for the land owners. We want our friends in rural America to know that they don''t have to turn their land over to large wind developers. Instead, they can work with us and own their own wind farm and keep a much larger share of the economic benefits for themselves and their neighbors."
"While we are very focused on the construction of our 2009 wind farm projects, we continue to win new business in partnership with our local owner groups like Adams," added John Mitola, President of Juhl Wind. "Obviously, the new projects that we will be announcing will set the stage for our revenue growth in 2010 and beyond and we will provide more information as the detailed timeframes are formulated over the next few months."
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 14 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 now 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.OB. Additional information is available at the Company''s website at http://www.juhlwind.com/ or by calling 877-584-5946 (or 877-JUHLWIN).
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 2009 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to new projects like the Adams project mentioned herein. New projects are subject to large, third party risks that may not be in control of Juhl Wind including the availability of project equity, debt financing and wind turbines and risks associated with project timing. 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.
Juhl Wind Inc.
CONTACT: Juhl Wind Investor Relations, Jody Janson, iStockDaily, Inc.,
+1-888-438-JUHL (5845), or Fax, +1-585-232-5457, jody@istockdaily.com
Web Site: http://www.juhlwind.com/
