CWP Clipper Reg S

RNS Number:2475E
Clipper Windpower PLC
21 September 2007



             CLIPPER ANNOUNCES AN UPDATE ON CAPGEN'S WIND PORTFOLIO



* CAPGEN to raise new equity capital in return for a minority stake in CAPGEN.



* Funds will be used to finance the build out of CAPGEN's project
portfolio and finance the growth of its business over the next two years.



* CAPGEN releases further detail of its portfolio, on a project by
project basis.



September 21, 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 provide an update on proposed
fund raising by Clipper Capital & Generation ("CAPGEN") and the wind portfolio.



Further to Clipper's 06 September 2007 release, CAPGEN will be formed by a
contribution of the development assets of Clipper and Hemeretik SL of Spain.
CAPGEN is currently seeking one or more equity partners and is approaching
financial institutions as well as strategic industry participants to obtain
expressions of interest.



Funds will be used to finance both the build out of CAPGEN's portfolio and the
growth of its business over the next two years.  Funding will be supplemented
over time by debt financing at the individual project and group level.

A detailed overview of CAPGEN's development portfolio can be found on our
website at www.clipperwind.com/capgen.html



Jim Dehlsen, CEO of Clipper, said: "We are delighted to start the next stage in
CAPGEN's financing and have already received considerable interest from a number
of strategic and financial parties. Our goal is to capitalise CAPGEN robustly to
accelerate development of existing projects, acquire new sites and accumulate
generating assets to allow Clipper and new partners to gain maximum value from
the portfolio."



Pedro Barriuso, CEO of CAPGEN said: "The quality of our portfolio, added to a
strong management team and a successful funding, will ensure that we are well
positioned for strong growth opportunities."



For further information please contact:

Investors

Isabel Lutgendorf
Investor Relations Director
+44 (0)20 7820 1078
+44 (0)7876 717 671



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



About Clipper Windpower:

*         Clipper Windpower, www.clipperwind.com, is a rapidly growing company
engaged in wind energy technology, turbine manufacturing, and wind project
development.  With offices in the United Kingdom, United States of America
(California, Colorado, Iowa, and Maryland), Denmark, and Mexico and a ISO9001:
2000 QMS Certified, 330,000 square foot manufacturing and assembly facility
located in Cedar Rapids, Iowa, the company designs advanced wind turbines,
manufactures its 2.5-MW Liberty wind turbine and actively develops wind power
generating projects in the Americas and Europe.  Clipper is a public company
listed on the London Stock Exchange's Alternative Investment Market (AIM).
Clipper's ticker symbol is CWP.



About CAPGEN:

*         On 06 September 2007, Clipper announced that it would combine the
renewable energy assets held by Clipper Windpower Development with the renewable
assets of Helium, the fast growing renewable energy company based in Spain, to
form Clipper Capital and Generation ("CAPGEN").



*         CAPGEN brings together a development portfolio of over 10,500 MW in
wind and other renewable assets and will initially be 72% owned by Clipper and
28% by Hemeretik SL the parent of Helium.



*         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.
Sidney Tassin (Non-Executive Director of Clipper Windpower Plc) will be Chairman
of CAPGEN.



*         Clipper will appoint 3 of the 5 directors of CAPGEN and Hemeretik will
appoint 2 directors.



About Hemeretik:



Hemeretik Group

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



*         The group sales grew in 2006 by 45 per cent, and sales of its
businesses in the construction and real estate sector increased by 100 per cent
compared to 2005.



Helium Energy

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





DISCLAIMER



CAPGEN is currently in the process of being incorporated.  Statements regarding
CAPGEN's current or future status or projects are to be read as statements
regarding CAPGEN following incorporation and having the legal ownership of the
assets and management team as described herein.



This announcement is for shareholder's information only and is not intended to
form the basis of any investment decision. It does not constitute or form part
of an offer to sell or issue, or a solicitation of an offer to purchase or
subscribe for, any securities or other interests in CAPGEN or Clipper Windpower
Plc and no legal relations shall be created by its issue.  The information set
out in this announcement shall not form the basis of any contract and should not
be relied upon in relation to any contract or commitment.



This announcement is not being distributed into any country or jurisdiction
except under circumstances that will result in compliance with any applicable
laws and regulations.



None of the securities described in this announcement have been or will be
registered under the US Securities Act of 1933 (as amended) (the "Securities 
Act") or under the securities laws of, or with any securities regulatory
authority of (i) any state or other jurisdiction of the United States, or (ii)
any other state, jurisdiction, province or territory. Such securities may not be
offered or sold in the United States or to US persons absent an exemption from
the applicable registration requirements of the Securities Act.  This
announcement has not been approved or disapproved by the US Securities and
Exchange Commission or by the securities regulatory authority of any state or of
any other state, jurisdiction, province or territory.










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