Wind Works Power Corp. is pleased to announce it has acquired a 100% interest in Wind Park Burg I, a 4 megawatt (MW) fully permitted wind energy project located near Magdeburg, in the eastern part of Germany.
Wind Park Burg I Highlights:
— Fully permitted, construction-ready wind energy project;
— Power Purchase Agreement (PPA) via Feed-in Tariff at 9.52 Euro cents for
20 years;
— Project financing now in process;
— Construction expected to commence late 2010;
— 2 Enercon E82 wind turbines will be used. Enercon is the market leader
in Germany with over 50% market share in 2009, and is number 4 in the
world;
— Site has one of the best wind resources in Germany;
— Investment value: $ 10 Million Euros.
“This acquisition is our first project in Germany and provides valuable market diversification to complement our 80MW of power contracts in Ontario and our 275MW project pipeline in the United States. Germany is a proven wind market that currently generates in excess of 7% of the country’s electricity.”, comments Dr. Ingo Stuckmann, Wind Works’ President and CEO “Wind Park Burg I is a fully permitted project which we were able to acquire given our 10 year-network of contacts in Germany. We expect to commence construction in late 2010 with the objective of generating revenue in 2011.”
Wind Works is acquiring the project for a total purchase price of 900,000 Euros, payable according to milestones over the next 11 months.
About Wind Works (i) Zero Emission People
Our mission is to provide the opportunity for all people to participate in the development of renewable wind energy projects. We believe in making sound, environmentally conscious investments that are good for our shareholders and our planet. To eliminate one person’s carbon footprint of 20 tons each year, it only takes a modern wind turbine 3 days by producing approx. 40,000 kilowatt hours of zero emission energy. For more information, please visit: www.windworkspower.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the company’s control, inability to successfully conclude negotiations currently in progress, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.
Contacts:
Wind Works Power Corp.
Investor Relations
1-877-301-9748
www.windworkspower.com
SOURCE: Wind Works Power Corp.
http://www.windworkspower.com
