RENEW Hires McCulloch and Opens A Washington Service Location

Sioux Falls, S.D. June 27, 2016 – RENEW Energy, Inc. (RENEW) welcomes Darrin McCulloch, founder of Spin Trends, to their management team to lead and expand its current inspection services division.  McCulloch has over sixteen years of industry knowledge and will provide RENEW the opportunity to open a service location in southeastern Washington.  The hiring of McCulloch also helped RENEW attract a half dozen seasoned inspection technicians that formally worked with McCulloch.  RENEW plans to consolidate its current inspection division under McCulloch’s leadership which could include nearly 20 technicians that have experience with over 40 different OEM asset platforms.    

RENEW’s inspection services division will be based out of southeastern Washington and specialize in turbine inspection services with capabilities that include: gearbox and blade inspections, full asset end of warranty inspections and other due diligence services.  RENEW also plans to use the Washington location to expand its service offerings into the Northwest.   

“We are excited to have Darrin, Colette, and the inspection services technicians join the RENEW family,” said Jim Mikel, RENEW President.  “They share our values, focus on customer service and place the same strong emphasis on quality and innovation that has served RENEW well since our beginning.”

Curt Eliason, RENEW’s VP of Remanufacturing and Specialty Services added, “We are proud to welcome Darrin and the Washington location to RENEW.  Darrin has a proven track record in the wind industry and is a strong industry leader that will be a great addition to our management team.  The Washington location is also a great fit for us as we expand our services into the Northwest.

McCulloch was introduced to wind in 2000, after working in the Aerospace industry for fifteen years developing and maintaining high dollar aircraft.  In 2003, he and his wife Colette, founded Spin Trends and built it into one of the leading inspection firms in the US.  In 2011, the McCulloch’s sold the company and managed the group until mid-May 2016.

“It is a pleasure to join RENEW,” said McCulloch. “When I think about joining the team of professionals RENEW has, I think of ‘family’.  I’m eager to bring my talents to RENEW and help lead their inspection services division while expanding their professional services reach into the Northwest.”

About RENEW Energy, Inc. 

RENEW Energy, Inc., founded in 2009 by wind energy industry veterans and backed by private equity investors, has matured into an employee-owned, industry leader based in the Midwest, with a national footprint. The company offers a wide variety of specialized services, including Construction & Field Services, Specialty Field Services, Gearbox Services, Infield/Up Tower Repairs, Remanufacturing, Operations & Maintenance, Asset Management, Supply Chain Services, Control Center Services, Composite/Blade Services, Mobile Oil Change Services, and Solar. RENEW staff is experienced, fully trained and familiar with each major wind turbine manufacturer, past and present. For more information, go to http://renewenergy.com

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RENEW Energy Acquires Wind Farm Interests

Sioux Falls, S.D. April 29, 2016 – RENEW Energy, Inc. (RENEW), along with a local investment group, has acquired the operating interests in 7 Suzlon S-64 1.25 MW wind turbines located in Lincoln County Minnesota.  Lincoln County is located in southwest Minnesota and the turbines have been in service since 2006.  Lincoln Heights Wind Holdings, LLC is the special purpose company that will own and operate the project going forward.

RENEW’s CFO, Gary R. Fish, commented, “We are extremely happy to be involved in this transaction and in supporting the local investment group.  RENEW’s strong operating experience is a great fit with the local investors to own and operate this project and to maximize its value going forward.  As the production tax credits mature on the older projects, we see this as a favorable model that will allow for a new ownership structure to emerge.”

The project is located approximately 10 miles from RENEW’s Tyler, MN service center, making it very cost effective for RENEW to provide the operations and maintenance services.  Asset management for the project will be provided through RENEW’s 24/7 Control Center, based out of headquarters in Sioux Falls, SD.  RENEW will also integrate its deep drivetrain expertise into its services to extend the life of this project.  RENEW’s President, Jim Mikel, commented, “We look forward to managing these assets with a long-term vision and maximizing their value. We feel we are uniquely positioned to support these older assets as they mature with our strong portfolio of services from blades to gearboxes to 24/7 monitoring.”

The local investment group is led by Development Services Inc.’s (DSI) Vince Robinson and Wayne Hesse, the original developer.  Conrad Schardin, a local investor, is the President of Lincoln Heights Wind Holdings, LLC.  DSI’s Vince Robinson commented, “We are pleased to complete this transaction and believe we have put together a strong team to operate this project maximizing value for our investors. Our current plans are to return funds to our investors beginning in 2017. ”

About RENEW Energy, Inc. 

RENEW Energy, Inc., founded in 2009 by wind energy industry veterans and backed by private equity investors, has matured into an employee-owned, industry leader based in the Midwest, with a national footprint. The company offers a wide variety of specializations, including Construction & Field Services, Specialty Field Services, Gearbox Services, Infield/Up Tower Repairs, Remanufacturing, Operations & Maintenance, Asset Management, Supply Chain Services, Control Center Services, Composite/Blade Services, Mobile Oil Change Services, and Solar. RENEW staff is experienced, fully trained and familiar with each major wind turbine manufacturer, past and present. For more information, go to http://renewenergy.com

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RENEW Energy, Inc. Purchases Broadwind Energy’s Wind Turbine Services Business

Sioux Falls, S.D. December 14, 2015 – RENEW Energy, Inc., today completed the purchase of the majority of the assets of Broadwind Energy Inc.’s (NASDAQ:BWEN) wind turbine services division. The acquisition, which is RENEW Energy’s third in the past 12 months, adds Howard, S.D. and Abilene, Tex. to the company’s service locations along with approximately 35 employees. With approximately 175 employees in seven locations throughout the United States, RENEW Energy has grown into one of the largest service providers in the growing wind turbine industry.

RENEW Energy President Jim Mikel stated, “We are excited to welcome the former Broadwind employees to the RENEW family and look forward to serving a new portfolio of customers that comes with the transaction. This transaction adds two full load test stands to our drivetrain capabilities. We added a kilowatt full load test stand that will remain located in Howard, S.D. and a 3 megawatt full load test stand currently located in Abilene, Tex. that we intend to move to our Sioux Falls, S.D. location in early 2016. It also doubles our blade repair and gearbox oil change capabilities and expands our service footprint with the Abilene location which allows us to better serve our customers in the southwest region with our expanding service portfolio.”

RENEW Energy CFO Gary Fish commented, “RENEW is uniquely positioned to add significant value to these assets and we now expect our 2016 sales to top $40 million. This is our largest acquisition to date and third acquisition over the last 12 months as we continue to grow our service footprint and related platform. The combination of our internal growth and recent acquisitions demonstrates our commitment to serve the wind industry.”

Sioux Falls based Great Western Bancorp Inc. (NYSE:GWB) provided acquisition financing to RENEW for this transaction and the Minneapolis law firm of Fredrikson and Byron, P.A. provided legal counsel for the transaction.

About RENEW Energy, Inc.  RENEW Energy, Inc., founded in 2009 by wind energy industry veterans and backed by private equity investors, has matured into an employee-owned, industry leader based in the Midwest, with a national footprint. The company offers a wide variety of specializations, including Construction & Field Services, Operations & Maintenance, Asset Management, Gearbox Services, Infield/Up Tower Repairs, Specialty Field Services, Remanufacturing, Mobile Oil Change Services, Composite/Blade Services and Supply Chain Services. RENEW staff is experienced, fully trained and familiar with each major wind turbine manufacturer, past and present.

RENEW ENERGY MAINTENANCE EARNS MERITORIOUS AWARD

Sioux Falls, SD – October 8, 2014 – RENEW Energy Maintenance has been awarded the winner of the Meritorious Award for outstanding safety performance. The South Dakota Safety Council and the Governor’s office

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partnered to recognize excellence in safety through the Governor’s Safety Awards. RENEW Energy Maintenance was recognized at the twenty-second annual Governor’s Safety Awards Luncheon, where they honored South Dakota’s “best of the best” employers for their outstanding safety efforts. Applicants were judged on their comprehensive safety program, and their injury data, as it compared with state and national statistics. Steve Tolrud, RENEW Safety Coordinator, and John Hovland, RENEW Technical Trainer, also received mention for attaining their Workplace Safety Certificates from the South Dakota Safety Council and the South Dakota Department of Labor. There were just twelve individuals to graduate from the 2014 class. “This accomplishment reflects our company-wide commitment to the safety of our employees and customers. We greatly appreciate our employee’s dedication to safety in the workplace; it’s an honor to have this dedication recognized by such reputable offices. I would like to thank the South Dakota Safety Council, the Governor’s office and the RENEW team.”Jim Mikel, President – RENEW Energy Maintenance

The South Dakota Safety Council, a chapter of the National Safety Council, is a private, not-for-profit organization, established in 1949 to help employers and workers, families and communities reduce unintentional injuries (“accidents”).