Wind Works Power Corp. Acquires Interest in Producing Wind Farm in Germany December 11, 2012
2012年12月12日 - 12:21PM
OTC Markets
OTTAWA, ONTARIO--(MARKET WIRE)—December 11, 2012 – Wind Works
Power
Corp. (OTCQB:WWPW.BBO - News)(Frankfurt:R5E1.F - News)(WKN: A0RPM2)
is
proud to announce that its wholly-owned affiliate Zero Emission
People
Capital GmbH has acquired a 49% interest in an operating Wind Farm
for
$1 Million, with an option to increase its equity stake to 75%.
“Zero
Emission People Wind Farm No. 1” is a 4.6 megawatt (MW) wind
farm
located near Duisburg, Germany.
The Wind Farm was built in late 2011, with two 2.3 MW Enercon E70
wind
turbines. It is subject to a 20-year feed-in tariff payable
according to
German federal law. Enercon has provided a 15-year full warranty on
the
turbines with a technical 97% availability guarantee.
Total project investment was $6.5 million, of which 70% is debt and
30%
equity. The debt was financed with a 16-year loan at 4%, and the
equity
was financed with a project-specific two-year debenture. Through
the
sale of power, the Wind Farm will generate approximately $650,000
in
annual revenue.
“We are very excited to acquire our first producing asset, which
along
with the royalty we earn on Wind Park Burg 1, will generate a
steady
stream of revenue for Wind Works” comments Dr. Ingo Stuckmann,
Wind
Works President and CEO. “We plan to continue to grow our revenue
base
by building out a number of projects currently in our
development
pipeline in Germany; Ontario, Canada; and The United
States.”
About Wind Works * Zero Emission People
Wind Works now operates 4.6 megawatts in Germany, in which it has a
49%
ownership stake. In addition, Wind Works is developing 27 megawatts
of
near-term permitted projects in Germany; 90 megawatts of FIT
contracted
projects in Ontario; and 475 megawatts of projects in the United
States.
Our mission is to provide the opportunity for 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 10 tons each year (for Germany), it only takes a modern windmill
1
day by producing approx. 20,000 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.
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