Juhl Energy to Acquire Two Operating Wind Projects in Iowa

Juhl Energy, through its Juhl Renewable Assets (JRAI) division, reached a definitive agreement to acquire two operating wind farms located in North Central Iowa near the towns of Manley and Kensett. The projects utilize GE XLE 1.62 MW wind turbines and total 3.24 MW. Juhl Renewable Assets will purchase both projects by acquiring 100% of the membership interests held by the existing owners for $2.0 million and the assumption of debt in place at the project level.  The $2.0 million required to close on the Iowa projects will be raised through JRAI's 9.0% Series A Preferred equity offering to individual accredited investors and qualifying institutions. The transaction is expected to close in the next few months.