October 20, 2008
Higher Perpetual Energy and DeWind Sign Joint Venture Agreement to Develop $1.2 Billion of Texas Wind Power
Higher Perpetual Energy (HPE), the Texas based wind farm developer, has formed a joint venture business with Composite Technologies' turbine manufacturing business, DeWind, to jointly develop 620MW of wind power using 310 DeWind D8.2 turbines. The initial phase of 620 MW has development costs in excess of one billion dollars across four projects in the Texas panhandle area.
HPE is a joint venture between a green field wind developer and multi-technology renewable energy developer, Perpetual Energy. This partnership marks the first as HPE expects to develop 5,000MWs of wind power it has under lease option contracts."Working partnerships and joint ventures like these are key to turning opportunity into reality in the complex world of renewable energy," explains David Tatton, president of Higher Perpetual Energy. "HPE possesses significant scope and opportunity by having an inclusive approach and valuing the relationship with DeWind. This allows us to take the four projects we have highlighted from concept to fruition within thirty-six months. This is incredibly fast and will certainly reinforce HPE as one of the developers of choice in North America."
"Perpetual Energy entered into partnership with Higher Power more than eighteen months ago," said Richard Walling, Perpetual Energy's VP, North America. "The synergies between our two organizations and our open, honest approach to developing renewable energy projects have enabled us to make these projects come to life."
Perpetual Energy works with all renewable technologies, including wind turbines, solar PV, ground source heating, biomass heat & power and micro hydro. Its comprehensive service approach guides clients through prefeasibility, planning, design, supply, installation and maintenance. With more than 60 years experience and real world knowledge, Perpetual Energy can identify and deliver the best renewable energy solution for any organization or individual site.
About Perpetual Energy
Perpetual Energy Ltd., a world leader in the development, construction and operation of renewable energy solutions, is a 5-year-old, international, privately owned, renewable energy company with more than 1,500 MW of utility wind in construction or late development. Its strategy is to grow the business principally through organic development in regions with deregulated power markets, acceptable wind resources and favorable legislative and economic incentives.
Perpetual Energy is the preeminent worldwide renewable energy systems integrator working with Fortune 100 companies across multiple countries and technologies. The company has expertise in large scale solar PV, MW-class onsite wind, biomass CHP, geothermal heating and cooling, small hydro, and other renewable onsite power, heat, and cooling technologies.