AAER Signs A Turbine Supply Agreement With Mont Louis Wind L.P. For Delivery Of 61 A-1650 Wind Turbines
AAER Inc., Canada’s only original equipment manufacturer of wind turbines of 1 megawatt (“MW”) and more, announced today that it has signed a conditional turbine supply agreement (the “Agreement”) for the delivery and commissioning of 61 1.65 MW wind turbines to Mont Louis Wind L.P., represented by NPI Wind Power GP II Inc. and Northland Power Wind GP II Inc. (“Northland Power”), for its 100.65 MW wind farm project in Saint-Maxime-du-Mont-Louis, Quebec, Canada (the “Mont Louis Project”).
“We are quite excited about the Agreement for the Mont Louis Project. This project has a strategic value to AAER as it represents our lead order for the A-1650” said Dave Gagnon, President and Chief Executive Officer of the Company. “We are pleased to be working with a proven developer such as Northland Power and we look forward to the beginning of the manufacturing phase of this agreement.”
The Agreement includes provisions for supplying the Mont Louis Project with 61 complete wind turbines with cold weather packages, a SCADA operating system as well as testing and commissioning services. As is common practice for agreements of this nature in the wind industry, the turbine supply agreement is subject to a “notice to proceed”, to be given by Mont Louis Wind L.P. once a number of conditions precedent have been met to Northland Power’s satisfaction and once final permitting, approvals and financing have been obtained by both parties. Under the Agreement, delivery of turbines would occur during the third quarter of 2010 provided that a notice to proceed is given in the summer of 2009. The Agreement also provides for operations and maintenance services to be provided to Mont Louis Wind L.P. over a two-year period.
The A-1650 is an optimized version of AAER’s existing 1.5 MW A-1500 wind turbine, and its addition to the Company’s product portfolio enables AAER to offer a high degree of customization for each potential project, as well as competitive pricing for a range of different project configurations.
AAER is a wind turbine manufacturer located in Bromont, Quebec that manufactures and maintains high capacity 1 MW or more wind turbines principally for the North American market. Its strategy is to progressively build its product’s components to provide a high level of reliability and competitive pricing to its customers. AAER uses a portfolio of proven European technologies to ensure the performance of its turbines in various wind conditions and terrains. Its stock is listed on the TSX Venture Exchange (TSX-V: AAE). Additional information is available on the Corporation’s website at www.aaer.ca.
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