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WOODSTOCK, Minn.- (EDITOR NEWSWIRE) – Juhl Wind Inc. (OTC Bulletin Board:JUHL.ob – News), the Leader in Community Wind Power, today announced today that the Company’s wholly-owned service subsidiary recently added a contract to provide the full operations and maintenance to the Woodstock Hills wind farm located in Woodstock, Minnesota. The Woodstock Hills wind farm is owned by a community-based, joint venture LLC with Edison Mission Energy, the lead institutional equity partner.
"The addition of the Woodstock Hills service business is something we had planned for after the turbine warranty period expired," stated Dan Juhl, CEO of Juhl Wind. "When we develop wind farms, we always plan to provide the operations and administrative services on a long-term basis. In our newly developed wind farms, we are also adding long-term contracts for the system maintenance. All of these service contracts ensure the long-term integrity of the wind farms for our farmer-owner groups while providing Juhl with predictable, annual revenue streams. This contract represents about a 20% increase to our existing service business."
The Woodstock Hills wind farm was developed by Juhl Wind years ago and represents one of the first community wind farms built in the U.S. The wind farm is located near Juhl’s headquarters in Woodstock, MN. The system includes 17 Vestas V-44 turbines that have been in operation for approximately 10 years.
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 completed 14 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 management and system operations and maintenance. With its acquisition of Next Generation Power Systems ("NextGen’), 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.OB. Additional information is available at the Company’s website at www.juhlwind.com or by calling 877-584-5946 (or 877-JUHLWIN).
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," "approximates", "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 and specifically those statements referring to new projects like the Woodstock Hills service project mentioned herein. New projects are subject to large, third party risks that may not be in control of Juhl Wind including the availability of project equity, debt financing and wind turbines and risks associated with project timing. These risks are referenced in Juhl Wind’s current 8K or as may be described from time to time in Juhl Wind’s subsequent SEC filings; and such factors as incorporated by reference.
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