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Juhl Wind Inc. recently began construction on its Grant County Wind Farm project located near Hoffman, Minnesota. The US $40 million project is expected to be completed in the first quarter of 2010. Grant County Wind Farm is a community based energy project that includes several local farmers and other area residents as part owners.
The project is being built with construction financing that must be replaced with additional equity and long-term debt after the wind farm is fully operational and accepted.
"We are very proud to announce the startup of construction on our Grant County project," stated Dan Juhl, CEO of Juhl Wind. "As industry observers know all too well, it has been very difficult to get projects financed since the recession hit our economy. Our ability to structure the construction financing in order to build this project is a testament to our team's credibility in the community wind arena. Depending on weather, we expect to have the bulk of this project completed by the end of this year and be left with clean-ups and commissioning in the early part of 2010."
Juhl Energy Development Inc. is the developer and construction manager of the Grant County Wind Farm. The project is utilizing 10 Suzlon S88 wind turbines and when operating at full capacity will produce 20 megawatts of energy.
The general contractor for the project is Fagen Inc. and the project is being built with construction financing that must be replaced with additional equity and long-term debt after the wind farm is fully operational and accepted. Juhl Wind said that it will lead the effort to raise additional funding at that time.
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