Clear Wind & Chermac Energy Sign 320-MW Wind Deal

Clear Wind Renewable Power, Inc. announced the execution of a purchase agreement to acquire four wind energy projects with a total planned capacity of 320 megawatts (MW) from Chermac Energy Corporation. The four projects are at various stages of development.

Chermac Energy Corporation has developed more than 214 MW of wind farms through 2007 and is in the process of developing an additional 3,000 MW to be constructed primarily in Oklahoma, Texas and Kansas by the end of 2014.

“We are extremely pleased to have closed on this transaction with the team from Chermac Energy. We have been looking to acquire wind projects for a considerable period of time now,” said Matt McCabe of Clear Wind. “In addition, unlike many other structures that we have reviewed, the acquisition structure employed here aligns our interests and Chermac’s over the long term.”

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