SWI Wind Farms plans to develop four wind energy projects in the Texas panhandle consisting of Little Pringle One (10MW), Little Pringle Two (10MW), Big Pringle (200MW) and Palo Duro (400MW).
DeWind intends to supply wind turbines to the projects at agreed upon prices, subject to cost escalators, while Higher Perpetual Energy performs further development services. The projects are expected to generate in excess of two billion kWh of clean energy per year when they are completed.
DeWind has begun discussions with certain investors that have expressed interest in participating in the wind farm projects in exchange for ownership positions, tax benefits, and income from the power sales.
DeWind initially will be the 51% controlling member of SWI Wind Farms, while SWI Wind Farms has made arrangements with contractors to begin construction of the first 10MW farm.
Benton Wilcoxon, CEO of Composite Technology, said: We are excited about this new opportunity to supply our DeWind turbines for 620MW of wind farms and look forward to participation in the enhanced value of the projects as they progress through each stage of development.
