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Juhl Wind, Inc. Begins Construction on $40 Million Grant County Wind Farm
Published 10:53 a.m., November 16, 2009
Construction on a Grant County wind farm has begun.
Juhl Wind Inc. announced it recently began construction on a $40 million project located near Hoffman, Minn.
After completion in early 2010, the wind farm will produce 20 megawatts of energy when operating at full capacity — enough to power 7,000 homes in the area.
The project is a community based energy development that includes several local farmers and other area residents as part-owners of the project, according to a Juhl Wind news release.
The energy from the project will be connected to Otter Tail Power’s transmission system. However, Juhl Wind is selling the energy to the Northern States Power, according to the news release.
“We are very proud to announce the startup of construction on our Grant County project,” stated Dan Juhl, CEO of Juhl Wind Inc. “As industry observers know all too well, it has been very difficult to get projects financed since the recession hit our economy. Our ability to structure the construction financing in order to build this project is a testament to our team's credibility in the community wind arena. Depending on weather, we expect to have the bulk of this project completed by the end of this year and be left with clean-ups and commissioning in the early part of 2010.”
The project is being built with construction financing that must be replaced with additional equity and long-term debt after the wind farm is fully operational and accepted. Juhl Wind will lead the effort to raise additional funding at that time.
Juhl Wind is based in Woodstock, Minn. The company focuses on wind farm projects throughout the United States and Canada and to date has completed 14 wind farm projects.
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