CHICAGO, Ill., Dec. 2 (SEND2PRESS NEWSWIRE) -- Chicago-based Midwest Wind Energy, LLC (MWE), a leading developer of wind farms in the Central United States, announced today that it has completed development of its sixth wind power project, surpassing the $1 billion threshold in developed project assets.
The six projects, which total 568 megawatts in nameplate capacity, are located in Illinois, Wisconsin, and Nebraska, and generate enough electricity to supply an estimated 160,000 average households. The projects represent more than 30% of the total nameplate capacity currently operating or under construction in these States.(*Note 1) In addition, MWE has an active development portfolio of more than 1,700 megawatts located throughout the Midwest.
As a project development company, MWE fully develops wind farms from "concept to construction," and partners with well-known equity players to construct and operate them. MWE has sold its projects to Eurus Energy America, Corp, Wisconsin Power & Light Company, and Iberdrola Renewable Energies USA, Ltd.; and it currently enjoys an exclusive joint development partnership with Edison Mission Group. EMG recently purchased two projects from MWE totaling 320 megawatts.
"Our business plan to focus on project development and engage in strategic relationships with quality equity partners has proven to be very successful," said Stefan A. Noe, President of MWE. "Our current relationship with Edison Mission Group combines our development expertise with their available capital, access to wind turbines, and their talented construction and operation team. It's a great fit."
Since its inception in 2001, MWE has been a pioneer in wind farm development. MWE inked one of the first-ever wind power purchase agreements in Illinois in 2004, and most recently MWE broke new ground by becoming the first private developer to execute a power purchase agreement in Nebraska, the country's only 100% public power state.
Mike Donahue, Executive Vice President for MWE said, "It's remarkable to step back and realize that our company has successfully developed more than one-third of the wind power capacity in these major Midwestern states. $1 billion in developed assets is quite a milestone, yet we've only just begun."
(*1) Based on American Wind Energy Association inventory of existing projects and projects under construction as of 9/30/2008.
Detailed information about each of Midwest Wind Energy's projects is available on the company's website, www.midwestwind.com.
Midwest Wind Energy's Projects Surpass $1 Billion Mark - Wind Developer Thrives Even During the Economic Downturn
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