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Constellation Energy plans to acquire wind project in Maryland from Clipper Windpower Inc

Posted on: Tue, 01 Dec 2009 04:51:00 EST

Symbols: CEG, CRPWF

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Dec 01, 2009 (M2 EQUITYBITES via COMTEX) --
CEG | Quote | Chart | News | PowerRating -- Energy products and services supplier Constellation Energy (NYSE:CEG)
declared on Monday that the company has entered into an agreement with
Clipper Windpower Inc to acquire the USD140m 70-megawatt Criterion wind
project in Garrett County, Maryland, subject to certain terms and
conditions.

Following the acquisition, the wind energy project will be developed,
constructed, owned and operated by Constellation Energy.

Pursuant to the agreement, Constellation Energy will purchase the
Criterion project and 28 of the 2.5-megawatt Liberty wind turbines.

The agreement is expected to close in the first quarter of 2010 and
commercial operation of the project is anticipated to begin in autumn
2010.

The Criterion project has entered into a 20-year power purchase
agreement with the Old Dominion Electric Cooperative for energy and
renewable energy credits produced by the wind facility.

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