| For Immediate Release : | 18 October 2006 |
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Austin and Houston, Texas, October 18, 2006 - Renewable Energy Systems Americas (RES-Americas) and Horizon Wind Energy announced today that Horizon has purchased the second 200 MW phase (Post Oak) of the Lone Star Wind Farm from RES-Americas. RES-Americas Construction received Notice to Proceed with construction activities on the site.
With Notice to Proceed on the Post Oak phase of the Lone Star Project, RES-Americas announced that it now has 1,076 MW of wind farms under construction in the United States. Horizon's purchase of the project will bring Horizon's expected net MW ownership to over 1300 MW by the end of 2007.
The Post Oak project, located in Callahan and Shackelford counties in Texas, has been under development by RES since 2002. The project will utilize one hundred 2.0 MW Gamesa wind turbine generators, and is located adjacent to the first phase of the Lone Star Wind Farm, which is currently being constructed by RES-Americas Construction for Horizon Wind Energy.
commented Craig Mataczynski, President of RES Americas.“The sale of an additional 200 MW completes a transaction contemplated in January, 2006, when Horizon acquired the first phase of the Lone Star Wind Farm from RES-Americas. Construction of the project will further build RES' relationship with Horizon and help cement RES' position as a leader in the development and construction of wind projects in the US”,
said Alec Dreyer, CEO of Horizon Wind Energy.“We thank RES for their partnership on this project, and look forward to its successful completion”,
“At a time of volatility in the power markets and an increasing appreciation of the need for more renewable energy, we are thrilled to announce this 200 MW project.”
ABOUT RES-AMERICAS - RES-Americas is the North American arm of the RES group of companies. The RES Group was formed in 1982 and is a member of the Sir Robert McAlpine Construction Group. RES-Americas has been active in the US market since 1997 and has had a role in developing or constructing 10% of the operating wind projects in the United States and 20% of the installed wind capacity in the state of Texas. RES-Americas corporate office is located in Austin, Texas, and regional offices are located in Portland, OR, Minneapolis, MN, and Montreal, Quebec, Canada. RES-Americas continues to seek new locations for wind projects as well as opportunities to participate in other forms of renewable energy. On the web at www.res-americas.com
ABOUT HORIZON WIND ENERGY - Horizon Wind Energy develops, constructs, owns, and operates wind farms throughout the United States. Horizon-developed wind farms operate in New York, Iowa, Pennsylvania, and Oklahoma, and the company has projects under construction in Minnesota, Washington, Texas, Oregon, New York and Illinois. By the close of 2007, Horizon Wind Energy will own over 1300 MW in operating projects. Horizon Wind Energy is owned by Goldman Sachs, a leading global investment banking, securities, and investment management firm. More information is available at www.horizonwind.com.ENDS
CONTACT:| Meredith Ingram RES-Americas Phone: (512) 338-8560 Cell Phone: (512) 771-1891 meredith.ingram@res-americas.com | Sarah Bray Horizon Wind Energy Phone: 713-265-0310 Cell Phone: 713-492-1393 sarah.bray@horizonwind.com |