Mar 5 2010
The joint venture development of a 51-MW wind power facility, Windthorst-1 project, has been completed by OwnEnergy and Horn Wind. OwnEnergy is a community wind development platform in the U.S. and Horn Wind is a regional wind project developer in Texas. A global renewable energy company has bought the majority stake in the Windthorst-1 wind project.
The Windthorst-1 project, which is located strategically close to Windthorst in Texas, was developed according to the fundamental tenets of community wind projects. Local ownership, more number of local jobs, greater involvement from the local community, and financial upside for the community members are some of the central tenets. The strategy of OwnEnergy is to co-own and operate its project along with the local community partners. Even though the joint venture sold a majority stake in the project, it still holds a long-term interest in the Windthorst-1 project demonstrating its commitment.
CEO of OwnEnergy, Jacob Susman, said the company is delighted with the completion of the community wind farm development. This is a good example of how its development platform can help to develop renewable energy through local entrepreneurship and community involvement, Susman said.
President of Horn Wind, Jimmy Horn, said the completion of the Windthorst-1 is great success for the company. Horn Wind is developing five regional wind projects and this project is the first.
Source: http://www.ownenergy.net