Grapevine, Texas-based GreenHunter Wind Energy LLC, a wholly owned subsidiary of GreenHunter Energy Inc., has acquired a wind development project located in southeastern Wyoming from Wind Revolutions LLC of Denver.
GreenHunter Wind Energy will own 65% of the project, and the Southern Ute Growth Fund, a significant shareholder of GreenHunter Energy, will own 35% of the project. This new wind development project, more commonly referred to as Wheatland Wind, will be located on approximately 20,000 acres of federal land near Wheatland, Wyo. It has the potential to produce up to 600 MW of electricity, the company says.
Several existing high-voltage transmission lines run near the area. Transmission developer Trans-Elect has announced plans to build another large power transmission line in the area, which could enhance GreenHunter Energy's ability to sell power to the grid, according to the company. It is anticipated that the project will provide renewable power to markets in the western U.S.
GreenHunter Wind Energy and the Southern Ute Growth Fund have contractually agreed to acquire the Wind Revolutions LLC membership ownership interest over time pursuant to a series of project development milestones.
SOURCE: GreenHunter Energy Inc.