Juhl Wind, Inc. Announces Receipt of $1.4 Million U.S. Stimulus Grant for the Winona County Wind Project
Date : 01/04/2012 @ 8:43AM
Source : PR Newswire
Stock : Juhl Wind (JUHL)
Quote : 0.9 0.0 (0.00%) @ 8:42AM
Juhl Wind, Inc. Announces Receipt of $1.4 Million U.S. Stimulus Grant for the Winona County Wind Project
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Today : Wednesday 4 January 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).
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For more information, contact:
Juhl Wind Investor RelationsJody JansonPhone: (888) 438-JUHL (or 888-438-5845)Email: jody@istockdaily.com
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 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. Revenue estimates for all wind farms owned and operated by Juhl Wind Inc. are subject to variations due to turbine availability, actual wind available on an annual basis and other operating risks outlined in company filings. These risks are referenced in Juhl Wind's current 10K 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.
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