Renewable-energy developer Juhl Wind, Inc., based in Pipestone, Minn., plans to buy 260 megawatts worth of existing wind farms and other clean energy assets across the United States and Canada over the next three years, Bloomberg reports. Juhl has formed a joint venture with Colorado-based 8030 Companies to focus on acquiring projects that are about 10 years old -- when a production tax credit expires and equipment typically needs to be upgraded.
"Juhl Wind is one of the few companies outside of utility-based conglomerates that maintains operations in every aspect of the clean energy industry – including ownership, full-scale operations, maintenance, engineering, development and financing," John Mitola, president, said in a news release. "We bring our experience and investment discipline to bear in the smaller end of the market where we are extremely competitive and qualified to perform."
Bloomberg notes Juhl bought its first wind farm last year --a 17-turbine facility in Woodstock Hills, Minn.