Clipper Windpower And BP Wind Energy Complete Joint Venture Agreement For Titan Wind Project

Thursday, Oct 23, 2008

Clipper Windpower Plc (Clipper) today announced that it has completed its 50:50 joint venture (JV) agreement with BP Wind Energy for the development of the Titan wind project, a 5,050 megawatt (MW) wind energy development located in South Dakota. The project is expected to be constructed in multiple phases and, when completed, will be the world's largest wind facility.

The new venture has signed a Master Turbine Supply Agreement for the purchase of up to 2,020 Liberty wind turbines (if the project is fully built) from Clipper for the Titan wind project subject to pre-agreed conditions.

Under the terms of this agreement, in addition to wind turbine supply, Clipper would provide operations and maintenance services for the Titan Project for a period of five years.

Clipper's Liberty 2.5 MW wind turbine is designed to minimize unscheduled maintenance events over its 20-year life through a highly efficient, patented Quantum Drive distributed generation power train and proprietary permanent magnet generator technology. Variable speed operation is achieved in a simpler and more efficient manner than standard wind turbines. The Liberty wind turbine was tested at the National Renewable Energy Laboratory, and in 2007, Clipper was recognized by the U.S. Department of Energy for its outstanding contribution toward industry advancements' through an Outstanding Research and Development Partnership Award which recognizes the Liberty wind turbine for attaining unparalleled levels of efficiency and reliability and reduced cost of energy.