Juhl forms JV to acquire North America wind projects
Community wind developer Juhl Wind has formed a joint venture with 8030 Companies with a focus on the acquisition of existing projects under 100MW and other clean energy assets in North America.
Financial terms were not made public. Juhl is based in Minnesota and 8030 Companies in Colorado.
The joint venture will operate under the Juhl Wind umbrella and is particularly focused on wind farm assets approaching the 10th year of operation. That is when the federal production tax credit ("PTC") is about to expire. Equipment may then require upgrades and a level of operating care unavailable at the local level or by a large, conglomerate, absentee owner.
The partners also are looking to acquire or take an equity stake in projects where a local owner may need an outside party who understands the unique issues facing smaller wind farm assets.
Juhl is vertically integrated with ownership, full-scale operations, maintenance, engineering, development and financing of smaller wind facilities.
The company says that industry data suggests there is well over 6GW of wind farms under 50MWs in size presently operating in North America and significantly more available for those under 100 MWs.
Juhl says it has completed 21 wind farm projects.