Clipper Windpower Announces Sale of 80 MW of Wind Turbines to Edison Mission Group
Clipper Windpower Plc today announced that it will supply 80 MW (32 units) of the company's 2.5 MW Liberty wind turbines to Edison Mission Energy, a subsidiary of Edison Mission Group (EMG) for delivery in 2008. The transaction facilitates EMG's execution of an option to purchase wind turbines as set forth in an integrated supply agreement between the parties and previously announced by Clipper via the London Stock Exchange in July 2006.
Carpinteria, Calif. (PRWEB) December 7, 2006 -- Clipper Windpower Plc today announced that it will supply 80 MW (32 units) of the company's 2.5 MW Liberty wind turbines to Edison Mission Energy, a subsidiary of Edison Mission Group (EMG) for delivery in 2008.
The transaction facilitates EMG's execution of an option to purchase wind turbines as set forth in an integrated supply agreement between the parties and previously announced by Clipper via the London Stock Exchange in July 2006. The July transaction, a 280 MW sale and development agreement between Clipper and EMG, represents firm and contingent orders for up to 112 Liberty wind turbines for installation through 2008. Firm supply orders of 50 MW are slated for delivery in 2007, including installation services and a five-year service agreement. Contingent orders provided for the 80 MW of wind turbine options now exercised by EMG and scheduled for delivery in 2008, as well as options to acquire up to 150 additional megawatts of Clipper-held U.S. project development resources which will deploy Clipper 2.5 MW Liberty wind turbines.
Including this announcement, Clipper's 2006 transaction announcements represent firm commitments of 875 MW of Liberty wind turbines, and 5,065 MW of contingent orders for delivery through 2011.
The Liberty wind turbine was developed by Clipper to mitigate loads to components found in many of today's multi-megawatt wind turbine designs. The turbine design employs a number of patented technologies, including Clipper's patented Quantum Distributed Generation Drivetrain, four unique permanent magnet generators, and proprietary variable-speed technology. The largest wind turbine manufactured in the United States, Clipper's 2.5 MW Liberty machines are built in Cedar Rapids, Iowa, at Clipper's 200,000 square foot manufacturing and assembly facility.
About Clipper Windpower
Clipper Windpower, www.clipperwind.com, is a rapidly growing company engaged in wind energy technology, turbine manufacturing, and wind project development. With offices in California, Colorado, Maryland, Mexico and the U.K., and a ISO9001:2000 QMS Certified, 200,000 square foot manufacturing and assembly facility located in Cedar Rapids, Iowa, the company 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 McCann-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
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