CWP Clipper Reg S

RNS Number:3987D
Clipper Windpower PLC
06 September 2007

CLIPPER ANNOUNCES FORMATION OF ONE OF THE LEADING WIND DEVELOPMENT GROUPS IN THE
                              GLOBAL POWER SECTOR


*     Clipper and Spanish developer Helium (a subsidiary of Hemeretik, the
      construction and real estate group) combine their wind development 
      businesses to create Clipper Capital and Generation ("CAPGEN").


*     CAPGEN brings together a development portfolio of over 10,500 MW in wind 
      and other renewable assets.


*     The portfolio is predominantly based in the US, one of the fastest
      growing wind markets in the world, and also includes assets in Spain, 
      other European countries and Latin America.


*     CAPGEN will be managed by a highly experienced international
      development team, led by Pedro Barriuso, former Head of Iberdrola 
      Renewables.


*     CAPGEN will be 72% owned by Clipper Windpower Plc.


*     J.P. Morgan and Morgan Stanley have been engaged to evaluate capital
      structures and to lead an initial fundraising for the new entity.



September 06, 2007 - London, (UK), Carpinteria, CA (USA).  Clipper Windpower Plc
("Clipper"), a rapidly growing manufacturer of advanced wind turbines and
developer of wind energy projects, is pleased to announce the signing of a
binding term sheet with Hemeretik, the Spanish construction and real estate
group.


Clipper and Hemeretik will combine the renewable energy assets held by their
wholly-owned subsidiaries, Clipper Windpower Development and Helium, to form
Clipper Capital and Generation ("CAPGEN").  CAPGEN will initially be 72% owned
by Clipper and 28% by Hemeretik. Clipper will control three of the five board
seats with Sidney Tassin as Chairman of the newly formed company and the
remaining two seats will be controlled by Hemeretik.  Completion of this
transaction, which is subject to normal practice regulatory approvals and
completion of formal documentation is expected in the fourth quarter of 2007.


CAPGEN will operate a global renewable energy development business with a
pipeline in excess of 10,500 MW. The wind portfolio is segmented into three
stages of development; 340 MW advanced stage, 6,500 MW medium stage and
approximately 3,700 MW early stage. CAPGEN's wind portfolio is located
predominantly in the US, one of the fastest growing wind markets in the world.
Hemeretik is contributing assets located in Spain, other European countries and
Latin America.


The new group will be managed by an experienced international development team,
led by Pedro Barriuso. Mr. Barriuso has led Helium's development for the past
year, and was previously the head of Iberdrola Renewables from 2002 to 2006, a
period of rapid growth through both acquisitions and development, where he
helped to create the world's largest international wind development company.


CAPGEN will develop, finance, build, own and operate wind energy projects
globally and will benefit from a long-term supply agreement on market terms for
Clipper's Liberty turbines and subsequent technology introductions.


J.P. Morgan and Morgan Stanley have been appointed as financial advisors to
evaluate capital structures and to lead an initial fundraising for the new
entity. Clipper Windpower Plc is also being advised by Lehman Brothers.



Commenting on the agreement, James G.P. Dehlsen, Clipper Windpower CEO said:

"This transaction will achieve our stated goal of accelerating project
development and gaining maximum value from our development portfolio.


CAPGEN will be managed by one of the strongest teams in the industry, with
unequalled experience developing wind projects around the world. The presence of
an experienced, globally dedicated management team and existing European assets
will significantly speed the entry for Clipper turbines in the established and
growing European market.  It will also allow Clipper's management to focus on
advancing turbine technology and expanding its manufacturing capacity."



Pedro Barriuso, CEO of Helium said:

"CAPGEN will be a premiere international platform in the wind industry. The
combined asset base and management team create powerful opportunities for
growth. I am looking forward to managing CAPGEN and unlocking the value of one
of the largest independently owned wind development portfolios in the world.  I
am also looking forward to developing projects with Clipper's Liberty Turbine
technology, which is one of the best and most advanced in the industry."


Clipper intends to provide further details at the time of its interims
announcement expected to be released by the end of September 2007.



Conference call

James Dehlsen and Pedro Barriuso will host a presentation and conference call to
analysts and shareholders today at 09:00hrs (London time). To join the
conference call please dial +44 (0)20 7138 0813 (listen only). A copy of the
investor presentation will be available on 
http://phx.corporate-ir.net/phoenix.zhtml?c=193971&p=webcast 
at 08:50hrs (London time).




For further information please contact:

Investors
Isabel Lutgendorf
Investor Relations Director
+44 (0)20 7820 1078


Financial Press
Patrick d'Ancona
M:Communications
+44 (0)20 7153 1547


About Clipper:

Clipper Windpower Plc is a rapidly growing manufacturer of advanced wind
turbines and developer of wind energy projects. It was established in 2001 and
listed on London Stock Exchange's Alternative Investment Market (AIM) in
September 2005.


In 2006, the company opened its first manufacturing facility at Cedar Rapids in
Iowa which is currently producing the industry-leading 2.5MW Liberty Turbine,
incorporating state-of-the-art technologies including Clipper's patented
powertrain, generators, and power electronics. The Liberty machine is the
largest wind turbine built in the United States.


Clipper has offices in California, Colorado, Iowa, Maryland, Mexico, Denmark and
London.



About Hemeretik:



Hemeretik Group

Hemeretik is a privately owned Spanish-based construction and real estate group
with revenues of EUR 220 mm in 2006 which has expanded its activities into the
renewable energy sector.


The group saw growth in 2006 of 45 per cent, and its businesses in the
construction and real estate sector increased turnover by 100 per cent.



Helium Energy

Helium is a fast growing renewable energy company specialising in the
development and investment in renewable energies, 100% owned by Hemeretik and
10% owned indirectly by its management team.


It was formed in 2006 by Pedro Barriuso and a team of former Iberdrola
management with the mission of creating an international renewable energy
company, focused on wind power and solar power. The company analyses, promotes,
develops, invests and operates renewable energy projects in Europe and
internationally.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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