Wind contribution

14 August 2009

Clipper Windpower has confirmed its wind turbines will be part of large-scale wind projects in the US following the announcement of new debt financing.

The developer and operator of the farms, First Wind, received $191m (£116m) of financing for the construction of three wind farms totalling 202MW. Clipper turbines will contribute 145MW.

Proceeds from the financing transactions will be used by First Wind to further its development activity and for general corporate purposes.

‘This transaction is among the first financings supported by Liberty wind turbines,’ said Doug Pertz, president and chief executive of Clipper. ‘Considering this funding was obtained in the midst of a significant downturn throughout the world's credit markets, we view this financing as an indication of growing acceptance and confidence in the Liberty wind turbine design.’

First Wind attained financing for its Milford wind energy project in Utah earlier this year. The project, which includes 58 Liberty wind turbines, is the largest in the state at 203MW. Clipper's 2.5MW Liberty is the largest wind turbine built in the US and comprises more than 50 per cent US content - more than any other utility-scale wind turbine currently deployed in the US.

The Liberty fleet, which was first serially manufactured in early 2007, has been deployed in 17 projects throughout the US, with a total of more than 375 turbines, representing more than 938MW currently in operation.

Clipper, a public company listed on the London Stock Exchange's Alternative Investment Market, has primary offices in the UK and California, US.