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Wind Energy America Inc. has entered into a letter of intent (LOI) to purchase the developer's stake in four wind farms owned by Northern Alternative Energy Inc., a Minneapolis-based corporation.

According to the companies, the wind farms are located on Buffalo Ridge in southwest Minnesota, have a combined nameplate rating of 55 MW and collectively produce approximately 170 million kWh of electricity per year. Wind power produced from these wind farms is sold to Northern States Power/Xcel Energy under long-term power purchase agreements.

"In conjunction with our other current and planned investments, this acquisition will represent a major step toward our primary strategic plan of building a profitable portfolio of wind power assets," says Robert Williams, Wind Energy America's chair.

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