Clipper Windpower and BP to develop 5050 MW wind farm in US

Jul 30, 2008 - Thomson Financial

LONDON - Clipper Windpower and BP Alternative Energy have entered a 50:50 joint venture to develop one of the world's largest wind farm projects in the USA.

The 5,050 megawatt Titan wind energy project in South Dakota will build on a previously announced 1,550 MW South Dakota project, adding a further 3,500 MW of potential capacity, Clipper said in a statement.

Under the agreement BP will acquire 1,750 MW of wind development assets from Clipper for an initial price of $26.25 million, subject to the transaction closing before September 30.

Clipper in a separate trading statement said that it expects increased remediation costs to drive a "substantial" first half loss, with improvement in the second half, approaching breakeven. edward.mcallister@thomsonreuters.com ejm