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Little Rock Wind Announces Asset Purchase Of Big Stone Wind
Ortonville MN (SPX) Jun 05, 2009 Little Rock Wind, along with its managing partner, National Wind, have announced the closing of its asset purchase agreement with community-owned wind project Big Stone Wind. The assets acquired include development capital, land rights, an 80 meter meteorological tower and historical wind data, and various in-progress development assets. Little Rock Wind, LLC is a community wind energy company formed by National Wind, LLC and 9 local landowners and business people. The Company expects to utilize these assets in the ongoing development of its 150 megawatt community wind project(s) in Big Stone County. "We want to develop a wind project for Big Stone County in which the community is a principal benefactor," says Brent Olson, board member of both Big Stone Wind and Little Rock Wind's project companies. "This transaction will assure the community wind development efforts we initiated will continue forward under Little Rock Wind's community model. Because Little Rock Wind's community development philosophy is aligned with Big Stone Wind's, we are excited to now be working together to help landowners harvest the wind, and bring this needed income into our local economy." "We are very pleased with this transaction," says Bill Smeaton, National Wind's senior developer of the Little Rock Wind project. "Not only does this deal contribute valuable development assets, but Little Rock also gains a great group of investors, landowners and enthusiastic supporters of community wind energy. I'm excited to be working with this group and look forward to delivering important environmental and financial benefits to the whole Big Stone community." Little Rock Wind marks National Wind's 7th large-scale community-owned wind farm development in Minnesota. National Wind is known for a business model that enables the community to keep a large portion of a project's profits. Another key component of National Wind's model is that it incorporates landowner representation in the form of a local advisory board. Share This Article With Planet Earth
Related Links Little Rock Wind National Wind Wind Energy News at Wind Daily
Moog Completes Investment In Wind Energy BusinessEast Aurora NY (SPX) Jun 05, 2009 Moog has announced that it has acquired the remaining 60% ownership of the wind energy business of LTi REEnergy GmbH in Unna, Germany and Shanghai, China. The consideration was euro 12 million in cash paid and the issuance of a euro 9.5 million note payable in February 2010. The company produces electric servo controllers and complete drive systems that position rotor blades on wind ... read more |
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