GreenHunter Wind Energy, LLC, a subsidiary of GreenHunter Energy, Inc. (Amex: GRH), intends to acquire a wind development project with the potential for up to 600 megawatts (MW) of electricity generation from Wind Revolutions, LLC of Denver, Colorado.
GreenHunter Wind Energy, LLC will own 65% of the project and the Southern Ute Growth Fund, a significant shareholder of GreenHunter Energy, will own 35% of the project, which is located in southeastern Wyoming.
This new wind development project, more commonly referred to as "Wheatland Wind," will be located on approximately 20,000+ acres of federal Bureau of Land Management (BLM) land situated near the town of Wheatland, Wyoming. Several existing high voltage transmission lines run near the area and transmission developer, Trans-Elect, has announced plans to build another large power transmission line in the area which could enhance GreenHunter Energy's ability to sell power to the grid. It is anticipated that the project will provide clean renewable power to markets in the Western United States, such as Colorado and the West Coast.
GreenHunter Wind Energy and the Southern Ute Growth Fund have contractually agreed to acquire the Wind Revolutions, LLC membership ownership interest over time pursuant to a series of project development milestones.
Commenting on the acquisition of the 600 Megawatt "Wheatland Wind" project, Stephen A. Wiley, President of GreenHunter Wind Energy, stated, "The execution of this agreement between GreenHunter Wind Energy and Wind Revolutions, LLC is the largest wind power development project that GreenHunter has acquired to-date. We committed to the opportunity for several reasons: i) the attractive power pricing that the region has recently shown, ii) the existence of existing power transmission infrastructure nearby, and, iii) the availability of wind turbines through GreenHunter Energy's contractual negotiations with several wind turbine manufacturers, both domestically and overseas. Once developed, this project should be very significant to GreenHunter's future revenue stream."
Regarding its participation in the Wheatland Wind project, Mr. Robert J. Zahradnik, Operating Director of the Southern Ute Indian Tribe Growth Fund, stated, "The Southern Ute Indian Tribe is committed to investing in and supporting alternative energy projects. We are pleased to be partnering with GreenHunter Energy in developing this valuable renewable resource."
About GreenHunter Energy
GreenHunter Energy is focused on the renewable energy sectors of wind, hydro, geothermal, solar, biofuels, and biomass power plants. The company's assets consist of leases of real property for future development of wind energy projects located in Montana, New Mexico, Wyoming, California, Texas, and China, the nation's largest biodiesel refinery located in Houston, Texas, and a cow manure-fired power plant located in El Centro, California. Headquartered in Grapevine, Texas, GreenHunter Energy was formed to be the first publicly traded renewable energy company based in the U.S. that provides to investors a portfolio of diversified assets in the alternative energy sector.
About Wind Revolutions, LLC
Wind Revolutions, LLC is focused on the development of wind energy in the Western United States. Our project pipeline consists of wind projects with a potential total generation capacity of over 3 gigawatts (GW). Our sites are located in Wyoming, New Mexico, California and Arizona. Headquartered in Denver, Colorado, Wind Revolutions, LLC is a privately held wind energy company based in the U.S. Additional information about Wind Revolutions may be found at http://www.windrevolutions.com.
