Clipper Announces Completion of Turbine Sale Contract and Maryland Wind Project Acquisition by Constellation Energy

Share Article

Maryland's first wind project begins construction following the completion of a wind turbine sale contract and wind project acquisition between Clipper Windpower and Constellation Energy.

“As Maryland’s first wind energy facility, the Criterion Project will be a source of both new green jobs and clean energy”

Clipper Windpower, Inc., and its subsidiary, Clipper Windpower Development Company, Inc., collectively (“Clipper”), today announced the completion of its agreement with Constellation Energy for the purchase of 28 Liberty 2.5 MW wind turbines and acquisition of Clipper’s 70 MW Maryland-based Criterion project development. The Criterion Project, slated for immediate construction, is expected to be online by year-end 2010.

“As Maryland’s first wind energy facility, the Criterion Project will be a source of both new green jobs and clean energy,” said John Lamb, CEO of Clipper Windpower Development Co., Inc. “Equipped with American-made 2.5 MW Liberty wind turbines, the project will be state-of-the-art and a source of pride for the State and Constellation Energy.”

Clipper employees based in Garrett County will provide operation and maintenance services for the Project under a long-term agreement, and 24/7 operation oversight will be provided through Clipper’s Remote Maintenance and Diagnostic Center located at its Cedar Rapids, Iowa manufacturing facility.

The Criterion site is located in Garrett County, Maryland, to the east of the county seat of Oakland. 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.

The Project’s wind turbines will be built at Clipper’s 330,000 square foot manufacturing facility in Cedar Rapids, Iowa. Earlier this year, Clipper announced a 49.5% investment in Clipper Windpower Plc by United Technologies Corporation, a global provider of high technology products and services to the building systems and aerospace industries.

About Constellation Energy
Constellation Energy (http://www.constellation.com) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located in the United States and Canada, totaling approximately 7,100 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $15.6 billion in 2009.

About Clipper Windpower
Clipper Windpower, Inc., http://www.clipperwind.com, is a company engaged in wind energy technology, turbine manufacturing, and wind project development. 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’s primary offices are in the United Kingdom and in California, USA. The Company’s 330,000 square foot manufacturing and assembly facility for land-based wind turbines is located in Cedar Rapids, Iowa; its development center for offshore wind turbine development is located in Blyth, UK.

Clipper Windpower, Inc. is a subsidiary of Clipper Windpower Plc. The ordinary shares of Clipper Windpower Plc are traded on AIM 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. Clipper’s ticker symbol is CWP.

For further information, please contact:
Business and Trade Press:
Mary Gates
Global Communications Director
+1 (661) 301-0400
mgates(at)clipperwind(dot)com

Investors:
Jenny Matthews
Investor Relations Director
+44 (0)20 7820 1078
jmatthews(at)clipperwind(dot)com

Financial Press:
Patrick d’Ancona / Charlotte Kirkham
M: Communications
+44 (0)20 7920 2347 / 2331

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

MARY GATES
Visit website