Juhl Energy Inc., a Minnesota-based clean energy solutions provider and community wind project developer, recently reached a definitive agreement to acquire two operating wind turbines in Iowa: one located in Manley and one located in Kensett.
The projects, each featuring a single GE XLE 1.62 MW turbine, have been commercially operating since November 2011. Wholly owned subsidiary Juhl Renewable Assets Inc. will purchase both projects by acquiring 100% of the membership interests held by the existing owners for $2 million and the assumption of debt in place at the project level.
Juhl Energy says it expects to finalize the deal in the next few months and did not publicly disclose the name of the seller(s).
‘This transaction underscores our ongoing commitment to building our residual, independent power production business made up of wind farms today and – we hope – other forms of renewable energy in the future,’ states John Mitola, president of Juhl Energy.