Composite Technology Corporation (CPTC.OB) announced that the company’s wholly owned subsidiary, DeWine, has received an order from S&M CZ servo. Under the terms of this order, S&M is to purchase a total of 40 DeWine turbines. This purchase order, the largest of its kind thus far, is valued at 61,440,000 Euros, approximately $90 million.
S&M plans to install 40 DeWind 2.0 megawatt D8 turbines throughout multiple sites in the Czech Republic. Currently, the delivery schedule requires 10 turbines to be shipped in the fourth quarter of 2008 and 30 turbines delivered throughout 2009.
Benton Wilcoxon, CEO of CTC, stated, “We are pleased to continue our history of selling high performance turbines to the European market. With our manufacturing capability and established supply chain, DeWind is poised to move forward in several geographic markets.”
S&M CZ s.r.o. is a leading project development company located in Jevicko, Czech Republic. To date, the company has wind farm projects in Zipotin, Anenska Studanka, Ostry Kamen, Vychodni Cechy, Morava and Olomucko. Since their formation in March 2003, S&M has been actively working in the Czech Republic renewable energy sector.
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