AAER Signs Turbine MOU With Positive Power Co-Op

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Wind turbine manufacturer AAER Inc., headquartered in Bromont, Quebec, has signed a memorandum of understanding (MOU) with the Hamilton, Ontario-based Positive Power Co-op for the sale of two A-1500-77-80 wind power turbines, worth C$4.5 million.

Under the MOU, the two 1.5 MW turbines will be installed by mid-2008, AAER says. The units will be located in Dunnville, Ontario. Positive Power plans to participate in Ontario's standard offer program, which guarantees the purchase of electricity from renewable sources for 20 years, with a price starting at C$0.11 per kWh.

The contract could represent a total of C$5 million in revenue when attached options and maintenance contracts are also taken into account. According to the companies, AAER has provided Positive Power with a quote on engineering, procurement and construction management of the wind farm. These services could represent additional revenues on the order.

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