Crownbutte Wind Power Receives Additional Investments from NACEL Energy

NACEL Energy, a company that develops utility scale wind energy projects, has declared that as on 31st May, it has paid $111,687 as operating capital to Crownbutte Wind Power. In addition, the company has spent around $278,000 towards restructuring and debt settlement since it purchased major stakes in Crownbutte during January this year.

Crownbutte utilized the funds from NACEL towards its common capital and expenditures linked to the installation of pipelines for the wind power project. The Board of Directors of NACEL will work out the modalities to convert the capital investments made by the company in Crownbutte as common stocks.

NACEL holds the highest volume of shares in Crownbutte, which has developed, constructed and managed a number of utility level wind projects such as a 30 MW project at Baker, Montana and a wind park in Chamberlain, South Dakota. The wind energy park, comprising 20 GE 1.5 MW wind turbines and developed by Crownbutte, was later bought by Montana-Dakota Utilities.