July 18, 2008
Dakota Wind Energy Announces South Dakota’s First Intrastate Wind Project Public Offering
EDEN, S.D., July 18 /PRNewswire/ -- Dakota Wind Energy, LLC, a South Dakota community-owned wind development company, announces an intrastate public offering of its securities. This offering is only open to South Dakota resident landowners who grant wind-related rights to Dakota Wind Energy. Dakota Wind Energy plans to develop over 750 megawatts of community-owned wind farms in Roberts, Marshall and Day Counties in South Dakota.
"We want landowners participating in Dakota Wind Energy to have the opportunity to own units in the company," says Gerry Fisher, a member of the Dakota Wind Energy board of advisors. "An intrastate public offering makes this possible. It also allows us to return a portion of the development proceeds to Dakota Wind Energy members over a long-term period."
All South Dakota landowners that reside within the project's footprint may receive ownership units in Dakota Wind Energy. Landowners who grant wind-related rights to Dakota Wind Energy can receive either a traditional cash payment, or units in Dakota Wind Energy through this offering.
"Shared ownership is what makes Dakota Wind Energy different from traditional wind developers," says Mark Lucas, Vice President of National Wind. "Most other developers do not offer ownership; they only provide turbine lease agreements. In our wind developments, even if landowners do not end up with a wind turbine on their property, they still have the opportunity to own a part of Dakota Wind Energy. More than any other private offering structure, an intrastate public offering allows for the greatest number of local landowners to participate."
The number of units offered to each resident landowner is dependent on the amount of acres subject to the wind easement granted by the landowner. The wind easements secured through this offering will help Dakota Wind Energy develop up to 750 megawatts of wind projects.
"Dakota Wind Energy plans to develop its projects in 100-150 megawatt phases up to a total of 750 megawatts," says Lucas. "The economic benefits of owning units may be seen as each phase moves into commercial operation and also when the appropriate agreements are entered into with regional utility companies." Dakota Wind Energy plans to build its first phase within the next three to five years.
All units will be sold directly to local South Dakota investors without use of a broker-dealer or agent. Sales of securities will only be made after interested investors have received and reviewed a prospectus. Interested investors can obtain more information on this project at http://www.dakotawindenergy.com/.
Forward-Looking Statements: This press release "contains forward looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. You can identify these statements by the fact that they do not relate strictly to historical or current facts and may be flagged by words such as "expect,""potential,""intend,""hope" and similar words. Forward-looking statements in this release generally relate to (i) Dakota Wind Energy, LLC's ability to present the offering to more landowners and investors than a private placement offering; and (ii) the anticipated profit and benefits from community-owned projects. Forward-looking statements are beyond the ability of Dakota Wind Energy, LLC to control and, in many cases, these companies cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements.
About National Wind, LLC: National Wind, LLC, is the leading developer of utility scale (50 megawatts or more) community wind energy projects. We form powerful community wind energy partnerships with property owners, assuring that a project's economic benefits are shared with the community. National Wind and its subsidiary, Wind Energy Developers, LLC, have participated in developing 15 wind energy projects and currently have over 4,000 megawatts in development. National Wind's projects are located in Minnesota, Iowa, North Dakota and South Dakota, and the company is exploring expansion opportunities in other states. Please visit http://www.nationalwind.com/ for more information.
About Dakota Wind Energy, LLC: Dakota Wind Energy is a community-owned wind farm development company located in Roberts, Marshall, and Day counties, South Dakota. Our company plans to develop and produce up to 750 megawatts of wind energy projects which are sustainable, generational and environmentally responsible. The company's financial commitment is to assure a majority of the development proceeds are shared with the surrounding community. Please visit http://www.dakotawindenergy.com/ for more information.
Contact Information: Erin Edholm Director of Communications [email protected] 612-746-6646 http://www.nationalwind.com/
Dakota Wind Energy, LLC
CONTACT: Erin Edholm, Director of Communications of National Wind, LLC,+1-612-746-6646, [email protected], for Dakota Wind Energy, LLC
Web site: http://www.nationalwind.com/