DeWind turbines ordered by MidWest Finance

7 April 2006 - EU Energy plc has concluded and announced a frame agreement with Midwest Wind Energy Finance (MWEF) to supply 170 DeWind 2 MWt 60 Hz D8.2 wind energy turbines.

The turbines are destined for Midwest projects over the next six years, with the first 20 turbines to be delivered in 2007 and an additional thirty per year over the following 5 years.

The frame agreement, valued at approximately $365m, brings current EU Energy backorders for D8.2 turbines to approximately $2.36bn for delivery through 2012.

EU Energy is currently subject to a takeover bid by Composite Technology Corporation (CTC). Subject to complying with securities laws and regulations, shareholder approvals and related diligence, CTC anticipates closing its acquisition of EU Energy in the second quarter of this year.

"We are pleased to enter into a long-term partnership with EU Energy," stated MWEF President, Ken Valley. "Their recognition of and responsiveness to the needs of smaller projects, as well as their leading technical capabilities, were key factors in our decision to use the DeWind turbines. Also, having EU Energy as one of our major suppliers guarantees that turbines are available for our community-based projects and gets them completed sooner. Furthermore, it keeps smaller projects competitive since the DeWind cost-saving turbine design produces energy at a lower cost per MW. All of this makes our agreement with EU Energy an exceptional opportunity for land owners, developers and municipalities throughout the Midwest and the country."

CTC's Chairman and CEO, Benton Wilcoxon stated, "This development further emphasizes the strong demand for clean wind powered energy in the electricity generation market, in particular EU Energy's new DeWind D8.2 based upon the highly reliable design of the D8 model and the Voith WinDrive torque converter with a synchronous generator connected directly to the grid. We very much look forward to being a leader in providing North America the means for converting a large portion of its electricity production to renewable sources."

Midwest Wind Energy Finance LLC is a specialty finance firm headquartered in Minneapolis that provides hard-to-find equity and financing for small-scale ($2-50m) renewable energy projects. Along with its partners, MWEF provides the capital that enables projects to progress from various development stages to production. MWEF's goal is to help ensure the majority of investment dollars remain in the local communities. Currently, MWEF has a number of projects in various stages throughout farming communities in the Midwest and the country.


Sponsored by FLSmidth

Related Articles

Fuel Tech receives air pollution control contracts worth $3.6Mn

Fuel Tech Inc. has received multiple air pollution control (APC) contracts, worth approximately $3.6 million, from customers in China, Europe and the U.S.

Duke Energy completes ash excavation at W.S. Lee Steam Station

Duke Energy (NYSE: DUK) has submitted filings, to state regulators, outlining additional ash excavation plans for its W.S. Lee Steam Station in Belton, South Carolina.

Follow Power Engineering on Twitter

Latest News

FirstEnergy announces several leadership changes

FirstEnergy Corp. (NYSE: FE) announced several leadership changes in its utility business, ef...

Heysham 1 nuclear reactor shut down for leak

EDF Energy shut down one of two reactors at the Heysham 1 nuclear power plant in the UK.

FERC chair says EPA CO2 plan will affect infrastructure planning

The Environmental Protection Agency (EPA) Clean Power Plan will have a big impact on infrastr...

Longview Power files amended, and maybe final, reorganization plan

Longview Power LLC and its affiliates, including coal producer Mepco LLC, on Jan. 26 filed a ...

Industry reps, regulators to debate Obama carbon limits

Representatives of Wisconsin industries, state regulators and an environmental group are set ...

Pattern grows wind and solar developments in Japan with GPI deal

Pattern Energy Group Inc. (Nasdaq: PEGI) said its Pattern Energy Group LP (Pattern Developmen...

Iran bill would scrap nuclear deal over new sanctions

Iranian lawmakers have proposed a bill that would scrap a landmark 2013 interim nuclear agree...

EPA permit paves way for $500M power plant in South Texas

Federal regulators have issued a permit that paves the way for construction of a $500 million...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Categories

Buyers Guide Product Listings

Predictive Maintenance

IPS field service technicians use state-of-the-...

Mitsubishi Gas Turbines

Mitsubishi's advanced turbine technology includ...

Condition Monitoring

TIGER® Monitoring System automates the knowledg...

Turbine Services Limited

Turbine Services Limited, a wholly owned subsid...

Power Industry Wire News

Vectren to Achieve Environmental Compliance With New EPA Mandates; Receives Approval to Defer Cost Recovery

Vectren to Achieve Environmental Compliance With New EPA Mandates; Receives Approval to...

Midcoast Energy Partners, L.P. Declares Distribution Increase for Fourth Quarter 2014

Midcoast Energy Partners, L.P. Declares Distribution Increase for Fourth Quarter 2014

NV5 Appoints Alexander Hockman to Board of Directors

NV5 Appoints Alexander Hockman to Board of Directors

Algae Biomass Organization Kicks Off Planning for 2015 Algae Biomass Summit

Algae Biomass Organization Kicks Off Planning for 2015 Algae Biomass Summit

Vivakor Signs MOU for Oil Extraction Technology

Vivakor Signs MOU for Oil Extraction Technology

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>