WOODSTOCK, Minn., Dec. 1, 2010 /PRNewswire/ -- Juhl Wind, Inc. (OTC Bulletin Board: JUHL), the Leader in Community Wind Power, today announced it recently secured a $12,564,150 U.S. Stimulus Grant for its recently completed 20 Megawatt Grant County Wind project, located near Hoffman Minn., in the central western area of Minnesota. The grant was issued by the U.S. Treasury Department in accordance with the American Recovery and Reinvestment Act of 2009. The proceeds of the grant went toward partial payments of construction financing arranged by Juhl for the community wind project.
"We are proud to have recently completed construction and commissioning of the Grant County project," stated Dan Juhl, CEO of Juhl Wind, Inc. "This 20 megawatt project is representative of the other types of projects we are constructing in the Minnesota region such as our recently announced Adams and Danielson wind farms which total about $86 million in work. All of these projects are designed to be owned through a joint venture of our local farmer owners and institutional partners. The U.S. Stimulus funds have helped to pull together the financing for several of our wind farms that we have built or have under construction this year and into 2011 by providing about 30% of each project's funding. We are proud to have participated in the program and hope that our leaders in Washington, D.C. find a way to continue this important funding source."
"We believe that the U.S. Stimulus grants make perfect sense for community owned wind farms," continued Dan Juhl. "Community owned wind farms not only deliver a totally clean and low cost energy source like wind power, but also help truly secure our U.S. energy future by keeping the ownership of this resource in the hands of real Americans. To us, this seems like the right place for our tax dollars to be put to work. As a result of this program, we have been able to get our community wind projects financed in the face of a very difficult recession, creating true short and long-term economic development in the heart of rural America. As such, we have created construction jobs and permanent work while at the same time helping to secure our energy future."
About Juhl Wind, Inc.
Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada. Juhl Wind pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has developed 16 wind farm projects and provides operations management and oversight across the portfolio. Juhl Wind services every aspect of wind farm development from full development and ownership, general consultation, construction and system operations and maintenance. With its acquisition of Next Generation Power Systems, Juhl Wind now provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. Juhl Wind is based in Woodstock, Minnesota and is traded on the OTCBB under the symbol "JUHL". Additional information is available at the Company's website at www.juhlwind.com or by calling 877-584-5946 (or 877-JUHLWIN).
For more information, contact:
Juhl Wind Investor Relations
Tel: (888) 438-JUHL (5845)
FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Wind's current expectations about its future results, performance, prospects and opportunities. Juhl Wind has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Juhl Wind and are subject to a number of risks, uncertainties and other factors that could cause Juhl Wind's actual results, performance, prospects or opportunities in the remainder of 2010 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks are referenced in Juhl Wind's current 10K or as may be described from time to time in Juhl Wind's subsequent SEC filings; and such factors as incorporated by reference.
SOURCE Juhl Wind, Inc.