Nov 20, 2012 - US wind farm developer Juhl Wind Inc (OTC:JUHL) said Tuesday it had created a joint venture (JV) with US-based 8030 Companies to acquire wind power plants and other clean energy assets in the US and Canada.
The JV, operating under the Juhl Wind umbrella, is targeting wind parks with capacity of up to 100 MW, Juhl Wind's president John Mitola said. Wind parks nearing their 10th year of operation are of particular interest for the partners, since that is when expiration of the production tax credit is expected, while the equipment may need upgrades or a certain level of operating care unavailable locally or by a big owner.
The JV builds on a partnership between 8030 Companies and Juhl, which started late last year. The JV has held preliminary talks with owners of targeted wind assets in the upper Midwest and is now expanding beyond that market.