AAER Signs 100-MW Turbine Reservation Deal with Mont Louis Wind

AAER Inc. announced that it has signed a Reservation Agreement for 61 of its 1.65-megawatt (MW) wind turbines with Mont Louis Wind L.P. for the company’s 100-MW wind farm project in Saint-Maxime-du-Mont-Louis, Québec. The 61 A-1650 turbines are scheduled for delivery during the third quarter of 2010.

Mont Louis Wind L.P. and AAER have agreed on a “cost plus” structure for the supply of the wind turbines. The final pricing and other terms and conditions will be set at the signature of the TSA. The overall sale price is currently estimated at approximately CAN $142 million [US $115.47 million].

“This agreement is a milestone for AAER as it represents the lead order for our new 1.65MW A-1650 wind turbine and provides important validation of our turbine technology and production capacity. It also strengthens our order backlog and provides excellent visibility on our long-term supply chain, as we start ramping up production in Q4 2008 toward our production goals for 2009 and 2010,” said Dave Gagnon, president and CEO of AAER

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