Clipper Supplies 67 MW of Wind Turbines for Mexican Project

Clipper Windpower Inc. is in the process of exporting 27 2.5-megawatt (MW) wind turbines to Mexico, backed by a US $80.66 million direct loan from the Export-Import Bank of the United States (Ex-Im Bank). It is the first export of Clipper’s wind technology outside of the United States. It also is the first Ex-Im Bank project financing for a wind power transaction, and the first large U.S. wind technology sale in Latin America.

Electrica del Valle de Mexico (EVM) is using Clipper’s equipment to build a 67.5-megawatt wind farm at La Ventosa-La Mata in Oaxaca, Mexico. The area is one of the world’s best wind resources with average wind speeds of 12 meters-per-second, and a total estimated wind resource of 6,000 megawatts. EVM is owned by France’s EDF Energies Nouvelles.

“This transaction furthers two of Ex-Im Bank’s highest priorities – creating and sustaining U.S. jobs and helping American manufacturers produce renewable energy and other green technologies for the world,” said Fred Hochberg, Ex-Im Bank’s chairman and president.

Clipper’s wind turbines are assembled in facilities in Cedar Rapids, Iowa.  The company also has operations throughout the country, from California to Colorado to Massachusetts.

The Oaxaca project is expected to become operational in December 2009.  It will deliver electrical energy under 15-year self-supply agreements to four subsidiaries of Wal-Mart de Mexico S.A.B. de C.V.

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