Green Plains Inc. has announced that its Board of Directors has approved a share repurchase program of up to $100 million of the Company’s shares of common stock effective immediately. Under the share repurchase program, Green Plains may repurchase shares from time to time in open market transactions, privately negotiated transactions, accelerated share buyback programs, tender offers or by other means. The timing and amount of repurchase transactions will be determined by the Company’s management based on its evaluation of market conditions, share price, legal requirements and other factors.
Ground was officially broken on the Red Rock Hydroelectric Project (RHHP), which will retrofit the Lake Red Rock Dam near Pella, Iowa to provide up to 55MW of power during peak seasons. RRHP is being built by Missouri River Energy Services, and Voith will supply the turbines, generators, and associated controls that will help provide power for an estimated 18,000 homes and businesses. The project has a target completion date of 2018.
Ygrene Energy Fund, a leading national provider of residential and commercial property assessed clean energy (PACE) financing, has announced they have raised $30 million in growth capital from Virgo Investment Group. Ygrene will use the funds to grow its channel contractor network, further expand its national footprint, and accelerate market awareness for PACE financing. The company appointed Mike Cary, former President of CIT Home Lending, as COO to immediately execute on its growth initiatives.
Juhl Energy, Inc. has announced they have completed its previously announced acquisition of two operating wind farms in Iowa. The $4 million acquisition closed on August 11th, 2014, and the wind projects are now wholly-owned by Juhl Energy. The two GE XLE 1.62 MW wind turbines are located in North Central Iowa near the towns of Manley and Kensett. The wind turbines are installed on private farmland approximately 10 miles apart from each other and have been commercially operating since 2011.