Schneider Power USA Inc., a wholly owned subsidiary of Toronto-based Schneider Power Inc., has entered into a non-binding memorandum of understanding concerning a proposed cooperation with juwi Wind US Corp. (JWUS), a wholly owned subsidiary of German wind project developer juwi GmbH, for the joint development of up to 300 MW of wind energy projects in the U.S.
Under the terms of the deal, JWUS will jointly develop wind projects with Schneider Power in the Northeast, Midwest and Texas transmission corridors. The total capital cost to realize the contemplated projects is anticipated to be $750 million to $850 million.
‘I'm delighted with this exciting new venture,’ says Thomas Schneider, CEO of Schneider Power. ‘It is precisely what we had envisioned for Schneider Power USA Inc. and will allow us to introduce our brand to the U.S. market, whilst ensuring the success of our projects continuing our working relationship with a very reputable partner such as juwi.’
SOURCE: Schneider Power USA Inc.