MECA Review Newsletter

Wolverine Power Cooperative said today it has signed a long-term agreement with Harvest Wind Farm, LLC, to purchase renewable energy from the company’s wind farm, which is planned for construction near Elkton and Pigeon, Michigan. John Deere Wind Energy is the principal owner of the Harvest Wind Farm project.

John Deere Wind Energy is planning to begin construction of the 32-turbine project at the Harvest Wind Farm site in Huron County’s Oliver and Chandler Townships this summer, with commercial operation scheduled for early 2008. Wolverine is purchasing renewable energy from the Harvest Wind Farm project for sale to its six member-companies and their retail customers.

“We are thrilled to be involved with John Deere Wind Energy and the Harvest Wind Farm project,” said Eric D. Baker, president and CEO of Wolverine. “Wolverine strongly supports the development of clean, renewable energy in Michigan and thus has chosen to make a long-term financial commitment to this project.”

John Deere officials echo Wolverine’s enthusiasm for the Harvest Wind Farm project and renewable energy.

“John Deere is pleased to proceed with the Harvest Wind Farm, which has been under development for three years,” said Dave Drescher, vice president of John Deere Wind Energy. “Without the participation and strong support of Wolverine Power Cooperative, the project would not have been possible. John Deere also recognizes leaders from Chandler and Oliver Townships, Huron County and the State of Michigan for their cooperation and support of the project, as well as the area utilities, ITC Transmission and DTE Energy, regarding interconnection of the project to the grid and its safe operation.”

In addition to the Harvest Wind Farm project, Wolverine plans to explore other renewable energy projects in the state, including its own development of a wind farm near Rogers City, Michigan.

“We plan to take what we have learned from the Harvest Wind Farm project and apply it to studying the potential for a wind project near Rogers City,” Baker said. “Renewable power has an important role to play, along with other technologies available today, in the creation of more balanced and cleaner electric generation in Michigan.”

The proposed wind farm near Rogers City is one component of the Wolverine Clean Energy Venture announced by Wolverine in May 2006. Wolverine is also exploring the feasibility of a state-of-the-art, base load, solid fuel power plant at the site.

Cadillac-based Wolverine supplies wholesale power to Cherryland, Great Lakes, HomeWorks Tri-County, Presque Isle, and Wolverine Power Marketing cooperatives, and Spartan Renewable Energy.

John Deere Wind Energy is a business unit of John Deere Credit, the financial services arm of Deere & Co. John Deere Credit is one of the largest equipment finance companies in the U.S. with more than 2.3 million accounts and a managed portfolio in excess of $21 billion. In addition to providing retail, wholesale and lease financing to help facilitate the sale of John Deere agricultural, construction, and commercial and consumer equipment, John Deere Credit also offers revolving credit, operating loans to farmers, crop insurance (as an MGA), and debt and equity financing within the wind energy arena. John Deere Credit has approximately 1,700 employees worldwide and operations in 17 countries.

General Motors Corp. says it has moved closer toward sparking the electric-powered, plug-in Chevrolet Volt to life, announcing two contracts Tuesday for developing the concept car’s high-tech battery packs, according to a story in today’s Detroit Free Press.

The announcement came a day before GM Chairman Rick Wagoner is to visit Capitol Hill to argue that GM and other automakers shouldn’t face tough increases in fuel economy standards, citing GM’s work on the Volt as proof of its environmental efforts.

The contracts with Michigan-based Compact Power Inc., a subsidiary of South Korean battery manufacturer LG Chem., and Continental Automotive Systems, a division of Continental AG, do not guarantee that the Volt or something similar would be in a showroom soon. GM executives said it does signal that the automaker knows enough about how to manufacture the Volt and about available battery technology to start building and testing prototypes.