U.S. Investment Company Acquires German Windfarms

A U.S. investment company has acquired a wind farm in Germany.

RUTLAND, Vermont – CIC Luxembourg SARL used its German affiliates to purchase the Eckolstadt Windfarm and the planning rights to the Kavelstorf Windfarm from enXco GmbH. CIC is a subsidiary of Catamount Energy Corp. of Vermont, The CIT Group and Dana Commercial Credit Corporation. Catamount is the non-regulated independent power subsidiary of Central Vermont Public Service. The Eckolstadt Windfarm in Thuringen was constructed in January of this year, and consists of nine Bonus 1.3 megawatt wind turbines. One other turbine of the same model is being installed now and another is in the planning stages. Energy is purchased by Thuringer Energie AG under terms of Germanyâs 2000 Renewable Energy Sources Act. The Kavelstorf Windfarm is being built in Mecklenburg-Vorpommern, and will consist of four Nordex 1.3 megawatt turbines and two smaller, 1 MW Nordex units. The generated electricity will be purchased by E.D.S. Energie Nord AG, also under terms of the renewable energy act. enXco will continue to handle administrative duties and Bonus and Nordex will provide the maintenance services for the turbines. The EckolstŠdt project was enXco’s first wind energy project in Germany, and is installed on a site previously used as a rocket base and a farm between Wormstedt and EckolstŠdt in the State of ThŸringen in the eastern part of Germany. The site is 300 meters above sea level, and was financed by Sparekasse Bremen. Since commissioning last year, the project has met all performance expectations and, during the first three months of operation, exceeded production by 25 percent. Catamount will act as construction manager and contribute management oversight of the projects. The Vermont company has ten projects in the U.S., U.K. and Germany, including an 80 MW hydro project under construction in West Virginia. The business strategy of CIC is to focus is on acquiring facilities and completing development projects in the 10 to 150 MW range in the United States, Canada and western Europe. CIC concentrates on renewable energy projects in hydroelectricity, wind and biomass, as well as gas-fired capacity, and the members of the group promote their experience in the independent power industry.

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