Clear Wind Renewable Power, Inc. announced today the execution of a purchase agreement to acquire four wind energy projects with a total planned capacity of 320 MW from Chermac Energy Corporation. The four wind projects are at various stages of development.
Chermac Energy Corporation is an Oklahoma-based independent energy company that has developed over 214 MW of wind farms through 2007 and is in the development process of an additional 3,000 MW to be constructed primarily in Oklahoma, Texas and Kansas by the end of 2014.
Chermac was advised by NorthWinds Advisors of Harrison, N.Y. on the transaction.
Clear Wind Renewable Power, Inc. is an affiliate of Whitebox Advisors, LLC, a Minneapolis-based investment adviser registered with the US Securities and Exchange Commission.