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Broadview Energy Announces Approval of 18MW Wind Contract with Farmersí Electric Cooperative

Broadview Energy and its wholly owned subsidiary, Broadview Energy Prime announced the approval by the Farmers' Electric Cooperative Board of a Qualifying Facilities wind contract to purchase the output of an 18 MW wind farm to be constructed in Curry County, NM by the end of 2012.

Clovis, NM, July 21, 2012 --( Broadview Energy, LLC and its wholly owned subsidiary Broadview Energy Prime, LLC (collectively, “Broadview”) announced the approval by the Farmers’ Electric Cooperative (FEC) Board of a Qualifying Facilities (“QF”) wind contract with Broadview to purchase the output of an 18 Megawatt (MW) wind farm to be constructed in Curry County by the end of 2012.

The project is scheduled to start construction in late August leading to Commercial Operation in mid November. This schedule is necessary to capitalize on the State and Federal Production Tax Credits. This project is considered to be a first phase of the Broadview Energy’s long-term plan for up to 500 MWs in Curry County, New Mexico and Deaf Smith County, Texas.

With this new contract, Broadview will provide clean, renewable wind energy through the local power grid and provide New Mexico-based renewable energy into the FEC system. FEC intends to make the required filing regarding the QF purchase with the New Mexico Public Regulation Commission by the end of July.

Lance Adkins, General Manager of Farmers’ Electric Cooperative, stated that Farmers’ is “very excited about the project.” He continued, “Broadview has worked to overcome significant challenges to make the project a reality. In addition, energy from the project will help to reduce wholesale energy price volatility, caused by natural gas, for the members of Farmers.’”

The Broadview project is being developed and managed by National Renewable Solutions, LLC (NRS), out of Minneapolis, MN. NRS utilizes the “Community Model” for each of the company’s wind development projects, and currently manages six other wind projects throughout the country, representing over 1,500 MW’s in active development.

Paul Stout, Advisory Board Chair of Broadview, NM spoke of this announcement, “We are very excited about the project. This event represents a positive step forward for the local communities of Broadview and Grady by adding value to the land, increased opportunities for our local schools and new economic growth for Curry County and New Mexico.”

Patrick Pelstring, the President of NRS said, “We worked cooperatively with Farmers’ Electric to complete this agreement. Farmers’ was interested in seeing the project move forward, but only with a cost structure favorable to its members and consistent with New Mexico PRC guidelines. This project’s success is directly attributable to NRS’s local-ownership model.”

Broadview Energy, LLC: Broadview Energy, LLC is a community-based wind development company located in Curry County, New Mexico and Deaf Smith County, Texas. Broadview’s objective is to develop up to 500 MWs or more of wind/renewable energy. Its development commitment is to produce renewable energy projects that are sustainable, generational and environmentally responsible. Its financial commitment is to assure that the financial benefits are shared with local stockholders, area land-owners and the surrounding community. Contact: Paul Stout, Advisory Board Chairman at 575-760-5461

National Renewable Solutions, LLC (NRS): National Renewable Solutions, LLC is a national leader in developing community wind energy projects. NRS forms community wind energy partnerships with property owners, and in many cases, public and private institutions. Patrick Pelstring is cofounder of National Wind and a former owner and board member. During his tenure at the company, National Wind completed development of nearly 300MWs of projects using the community ownership model. NRS currently has approximately 1,500 MWs in development around the country. Contact: Patrick Pelstring at 952-473-7500

Farmers’ Electric Cooperative, Inc. of New Mexico (FEC): Farmers’ Electric Cooperative is a locally owned non-profit electric cooperative based in Clovis, NM. FEC was formed by a group of area farmers in 1937, borrowing an initial $100,000 from REA. From that small beginning, this cooperative has grown to serve more than 6,800 members who receive power throughout 4,100 miles of energized line. FEC currently has 12,600 meters on their system. Contact: Lance Adkins at 575-762-4466
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Patrick Pelstring

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