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High Country Energy Closes the Nation’s First Intrastate Public Offering for a Wind Project
Minneapolis, Minnesota
– October 1st, 2008 – High Country Energy, LLC, along with its manager
National Wind, LLC, announces today the completion of the nation’s first
intrastate public offering in connection with the development of a wind
project. The offering, officially filed in May of 2008, was filled and
completed in only four months. Delphi Financial Corp., an affiliate of
National Wind, was the registered broker-dealer for the offering. High
Country Energy, LLC plans to develop a series of utility-scale
community-owned wind farms in Dodge, Olmsted and Mower Counties,
Minnesota.
“Through
the offering we now have approximately 60 additional Minnesota investors
in High Country Energy, helping solidify our goals for community
participation,” says Mark Lucas, Vice President of National Wind, and
Project Lead for High Country Energy. “The wind energy business
represents an exciting growth and investment opportunity and this
offering has allowed interested investors to purchase a position within
it. Wind energy is more mature than other renewable energy sectors--it
has a good track record and is growing rapidly. The U.S. wind industry
is expected to grow from 16,800 megawatts of installed capacity in 2007
to over 49,000 in 2015.”
Proceeds from the offering will be used to develop High
Country Energy’s multiple phases.
“We anticipate High Country Energy’s wind projects to
cost hundreds of millions of dollars to fully construct,” says Lucas.
“The capital raised in this offering will help to cover the costs of
these initial development phases. However, we will need to secure
additional debt and equity financing to construct the wind farms.
National Wind has long-standing relationships with large institutional
investors who appear to be interested and willing to provide this
capital.”
About National Wind,
LLC:
National Wind, LLC, is the leading developer of utility scale (50
megawatts or more) community wind energy projects. We form powerful
community wind energy partnerships with property owners, assuring that a
project’s economic benefits are shared with the community. National Wind
and its subsidiary, Wind Energy Developers, LLC, have participated in
developing 15 wind energy projects and currently have over 4,000
megawatts in development. National Wind’s projects are located in
Minnesota, Iowa, North Dakota and South Dakota, and the company is
exploring expansion opportunities in other states. Please visit
www.nationalwind.com for more
information.
About High Country
Energy, LLC:
High Country Energy, LLC is a Community Based Energy
Development (C-BED) company located in southeastern Dodge and
southwestern Olmsted counties in Minnesota. Our company exists to
develop and produce over 300 megawatts of wind energy projects which are
sustainable, generational and environmentally responsible. The company’s
financial commitment is to assure a majority of the development proceeds
are shared with the surrounding community. Please visit http://www.highcountryenergy.com
for more information.
About Delphi Financial
Corp.:
Delphi Financial Corp. is a Minneapolis-based investment banking firm
focused on raising capital for early to development stage businesses in
the Midwest. Originally incorporated in 1990, Delphi Financial has an
18-year track-record of successfully raising capital for a wide array of
companies, both private and public. Given management expertise in
renewable energy, particularly community wind development, Delphi
Financial is focused on raising debt and equity capital for companies in
this growing industry. The company is actively looking for opportunities
to raise capital for and, in some cases, assist in the development of
community-owned wind projects in the Midwest. For more information,
please visit www.delphifinancial.com.
Forward-Looking Statements: This press release "contains forward looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section21E of the United States Securities Exchange Act of 1934, as amended. You can identify these statements by the fact that they do not relate strictly to historical or current facts and may be flagged by words such as “expect,” “potential,” “intend,” “hope” and similar words. Forward-looking statements in this release generally relate to (i) High Country Energy, LLC’s ability to obtain additional, necessary debt and equity financing; and (ii) the anticipated profit and benefits from community-owned projects. Forward-looking statements are beyond the ability of High Country Energy, LLC, National Wind, LLC, or Delphi Financial Corp to control and, in many cases, these companies cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements.
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