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Clipper Windpower's Criterion Project to Supply Wind Power to Old Dominion Electric Cooperative Clipper Windpower, Inc. ("Clipper") today announced that it has entered into a long-term power purchase agreement with Old Dominion Electric Cooperative ("ODEC"), wherein Clipper will supply ODEC with the renewable energy credits (RECs) and the full electrical output produced by a new 70 MW wind project, the "Criterion" Wind Project, currently under development by Clipper. Carpinteria, CA (PRWEB) May 15, 2009 -- Clipper Windpower, Inc. ("Clipper") today announced that it has entered into a long-term power purchase agreement with Old Dominion Electric Cooperative ("ODEC"), wherein Clipper will supply ODEC with the renewable energy credits (RECs) and the full electrical output produced by a new 70 MW wind project, the "Criterion" Wind Project, currently under development by Clipper.
The Criterion site is located in Garrett County, Maryland, to the east of the county seat of Oakland on Backbone Mountain. Initiated in 2001, the proposed project has undergone studies and extensive review by the state, local agencies and the local public. Criterion supports Maryland's Renewable Portfolio Standard (RPS) which encourages new wind energy projects within the State of Maryland.
Once built, Criterion's electrical output will be distributed by ODEC to the electricity members of ODEC's 11 member electric distribution cooperatives in Virginia, Maryland and Delaware. At a cost of approximately $160 million, Criterion will be one of the largest single investments in western Maryland. Over its 20-year life, it is expected to contribute more than $25 million in local taxes, and, at peak construction, provide in the neighborhood of 110-120 well-paying construction jobs, and 4-6 fulltime operations and maintenance jobs once the project is complete.
Scheduled to be completed by late 2010, the project will produce enough wind-generated electricity to power about 20,000 average American homes on an annual basis while helping to reduce America's carbon footprint.
About ODEC: Old Dominion Electric Cooperative (ODEC) is a generation-and-transmission cooperative (G&T) that provides wholesale power to 11 member electric distribution cooperatives in Virginia, Maryland and Delaware. ODEC and its member systems are not-for-profit electric cooperatives that are owned by the consumer-members they serve.
These member systems are in Delaware, Delaware Electric Cooperative; in Maryland, Choptank Electric Cooperative; and in Virginia, A&N Electric Cooperative (ANEC), BARC Electric Cooperative, Community Electric Cooperative, Mecklenburg Electric Cooperative, Northern Neck Electric Cooperative, Rappahannock Electric Cooperative, Shenandoah Valley Electric Cooperative, and Southside Electric Cooperative.
ODEC currently owns 11.6% of the North Anna Nuclear Power Plant in Louisa County, VA and 50% of the Clover Power Station in Halifax County, VA. The Cooperative also owns and operates generation facilities in Louisa and Fauquier counties in Virginia and has a 50% ownership of a generation facility in Cecil County, MD. For more information, visit www.odec.com.
About Clipper Windpower: Clipper Windpower Plc ("Clipper"), www.clipperwind.com, is a company engaged in wind energy technology, turbine manufacturing, and wind project development. With offices in the United Kingdom, United States of America (California, Colorado, Iowa, and Maryland), Denmark, and Mexico and an ISO9001:2000 QMS Certified, 330,000 square foot manufacturing and assembly facility located in Cedar Rapids, Iowa, Clipper designs advanced wind turbines, manufactures its 2.5 MW Liberty wind turbine and actively develops wind power generating projects in the Americas and Europe. Clipper is a public company listed on the London Stock Exchange's Alternative Investment Market (AIM). Clipper's ticker symbol is CWP.
The ordinary shares of Clipper Windpower Plc are traded on the Alternative Investment Market of the London Stock Exchange and are not registered under the U.S. Securities Act of 1933, as amended. Such shares may not be offered or sold to residents of the United States or to persons acting on their behalf, or to other persons who are "United States Persons" within the meaning of Regulation S as promulgated under the Securities Act of 1933, unless such shares have been registered under the Securities Act or there is an available exemption from registration.
For more information contact: Mary Gates Director, Global Communications
Clipper Windpower, Inc. 6305 Carpinteria Avenue, Suite 300 Carpinteria, CA 93013 (main) 805.690.3275 (direct) 805.576.1323 (fax) 805.899.1115 (mobile) 661.301.0400 mgates (at) clipperwind (dot) com
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