enXco Wind Contract Big Winner in Xcel Energy All Source Bid

MINNEAPOLIS, MN.—June 24, 2003—enXco, Inc. was recently awarded a 200 MW wind power contract from an Xcel Energy all-source energy bidding process. The Fenton Wind Power Project--the next phase of enXco wind power in Southwestern Minnesota--will be located near the town of Chandler, in Murray County, Minnesota. Construction is already well under way just north of this area at enXco's 85.5 MW Chanarambie Wind Project, slated to begin operation in November, 2003. Combined, these projects will provide electricity for approximately 100-thousand homes on an average annual basis.

"enXco's success in these generation bidding processes is the result of our ability to drive down the cost of energy production, to where we now compete with other power producers and fuel sources," said Jim Walker, enXco's chief executive officer. "With enXco's financing capability, coupled with the latest turbine technology, wind power can compete with traditional electricity generating fuels."

"We are pleased to work with the communities, landowners and electric utilities to develop this welcomed wind development," added Walker.

enXco's investment of over $290 million for these two projects will provide economic benefits to the local communities and will help buoy the struggling economy of Southwestern Minnesota.

"My family is happy to be part of enXco's latest crop of wind power," said Fred Berreau, a farmer from Lake Wilson, MN that will have three turbines installed on his family farm this summer. "In addition to helping the environment, enXco has been a real-good business partner for us, keeping us involved all the way through the process. We're glad to have enXco working in our community."

 

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