CWP Clipper Reg S

 

TIDMCWP 
 
RNS Number : 3209D 
Clipper Windpower Plc 
30 November 2009 
 

 
 
 
 
CLIPPER ANNOUNCES SALE OF 70 MEGAWATTS OF LIBERTY TURBINES AND ITS MARYLAND 
PROJECT TO CONSTELLATION ENERGY 
 
 
Criterion Project to Become Maryland's First Wind Energy Project 
 
 
London, CARPINTERIA, CALIFORNIA - November 30, 2009 - Clipper Windpower Plc., 
and its subsidiary Clipper Windpower Development Corporation, collectively 
("Clipper"), today announced the sale of 70 megawatts ("MW") 28 of Liberty 2.5 
MW wind turbines and its Maryland-based Criterion development project to 
Constellation Holdings, Inc. ("Constellation"), a subsidiary of Constellation 
Energy, Inc., a Fortune 500 company headquartered in Maryland. The development, 
planned for construction in 2010, is expected to become Maryland's first wind 
energy project. 
 
 
Under the terms of the agreement, Constellation will purchase 28 Clipper 2.5 MW 
Liberty wind turbines and the 70 megawatt (MW) Criterion Project. Clipper will 
provide operation and maintenance services under a long-term agreement, and 24/7 
operation oversight through Clipper's Remote Maintenance and Diagnostic Center 
located at its Cedar Rapids, Iowa manufacturing facility.  The agreement, signed 
today, and subject to completion of certain closing conditions, is expected to 
close in the first quarter of 2010. The construction of the project is expected 
to commence in Spring 2010, with completion anticipated in the Fall. 
 
 
 "We applaud Constellation Energy's leadership in entering the wind energy 
sector through the purchase of this project and Clipper Liberty wind turbines," 
said Doug Pertz, President and CEO of Clipper Windpower. "Criterion will be a 
state-of-the-art project -- one the State of Maryland and Constellation Energy 
can certainly be very proud of. 
 
 
The Constellation Project is part of Clipper's extensive 10,500+ MW portfolio of 
wind resource assets under various stages of development. Through Clipper's 
integrated business model, the sale of the Company's development rights also 
drive sales of its Liberty wind turbine into these projects. 
 
 
"Today's announcement exemplifies the benefit of Clipper's business approach. 
We're confident that this strategy will continue to enhance Clipper's value and 
help to further drive the Company's market share." Mr. Pertz added. 
 
About Constellation Energy 
Constellation Energy (www.constellation.com) is a leading supplier of energy 
products and services to wholesale and retail electric and natural gas 
customers. It owns a diversified fleet of generating units located in the United 
States and Canada, totaling approximately 7,100 megawatts of generating 
capacity, and is among the leaders pursuing the development of new nuclear 
plants in the United States. The company delivers electricity and natural gas 
through the Baltimore Gas and Electric Company (BGE), its regulated utility in 
Central Maryland. A FORTUNE 500 company headquartered in Baltimore, 
Constellation Energy had revenues of $19.8 billion in 2008. 
 
About Clipper 
 
Clipper Windpower Plc, www.clipperwind.com, is a company engaged in wind energy 
technology, turbine manufacturing, and wind project development.  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's primary offices are in the United Kingdom and in California, USA.  The 
Company's 330,000 square foot manufacturing and assembly facility, located in 
Cedar Rapids, Iowa, is ISO9001:2000 QMS Certified.   Clipper is a public company 
listed on AIM of the London Stock Exchange. Clipper's ticker symbol is CWP. 
 
 
The ordinary shares of Clipper Windpower Plc are traded on AIM of the London 
Stock Exchange and are not registered under the U.S. Securities Act of 1933, as 
amended. Such shares may not be offered or sold to residents of the United 
States or to persons acting on their behalf, or to other persons who are "United 
States Persons" within the meaning of Regulation S as promulgated under the 
Securities Act of 1933, unless such shares have been registered under the 
Securities Act or there is an available exemption from registration. 
 
 
 
 
For further information, please contact: 
Investors: 
Jenny Matthews 
Investor Relations Director 
+44 (0)20 7820 1078 
jmatthews@clipperwind.com 
 
Business and Trade Press: 
Mary Gates 
Global Communications Director 
+1 (661) 301-0400 
mgates@clipperwind.com 
 
 
JPMorgan Cazenove (Nominated Adviser and Corporate Broker to Clipper) 
Patrick Magee 
+44 (0)207 588 2828 
 
 
Financial Press: 
Patrick d'Ancona / Charlotte Kirkham 
M: Communications 
+44 (0)20 7920 2347 / 2331 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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