Minnesota, United States [RenewableEnergyWorld.com] Juhl Wind Inc. announced that it has completed its acquisition of Next Generation Power Systems, a company that specializes in developing community scale wind turbine and solar systems. The acquisition of Next Generation Power Systems brings smaller wind turbine and solar industry experience to Juhl Wind to enhance and expand its existing community wind power product and service offerings, the company said.
Juhl Wind acquired Next Generation Power Systems for 92,143 shares of unregistered Juhl Wind common stock, valued at US $3.50 per share. The transaction also included Juhl Wind’s purchase of a commercial building in Pipestone, Minnesota, from a related company, Next Generation Power Properties, for a purchase price of US $144,000 payable by delivery of an aggregate of 41,070 unregistered common shares in Juhl Wind.
“The acquisition of Next Generation Power Systems is a perfect fit for Juhl Wind,” said Dan Juhl, CEO of Juhl Wind. “NextGen extends our area of expertise into smaller scale community wind and solar projects – which is an area practically untouched by the wind development industry and an area in which we continue to pick up business.”