NEWS

Clipper Windpower, announced that the first Clipper Liberty wind turbines to be installed internationally have been backed by an $80.66 million project financing loan by the Export-Import Bank of the United States (Ex-Im Bank). The transaction also marks Ex-Im Bank’s first project financing for wind power. The project owner is Electrica del Valle de Mexico, a subsidiary of EDF Energies Nouvelles (“EDF EN”).

The financing provides funding for 67.5 MW of Clipper Liberty 2.5 MW wind turbines. Once installed at the project site in La Ventosa, within the Istmo region in the State of Oaxaca, Mexico, the 27 Liberty wind turbines will supply clean, renewable power to establishments owned by subsidiaries of Wal-Mart de Mexico, S.A.B. de C.V. beginning in 2009.

“We are delighted to see the Liberty turbine being recognized by a growing number of financial institutions,” said Doug Pertz, President and Chief Executive Officer of Clipper. “We view this financing as a very positive indication of the growing acceptance in the reliability and performance of the Liberty wind turbine. It is also exciting to see the Liberty turbine taking the lead in an important emerging market.”

As the Company reported on September 30, Clipper is engaged in discussions with a number of parties that could lead to a significant investment in the Company. Clipper confirms its previous expectation that, while it cannot provide full assurance at this time that a transaction will be finalized, the Company anticipates announcing a conclusion to this process during Q4 of this year.

Ed. Deborah Wall

Information published: November 25 2009

http://www.clipperwind.com/pr_112609.html

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