Wind Works Power Corp. closes Sale of Half its Transmission Facility in Germany
September 5, 2012
OTTAWA, ONTARIO--(MARKET WIRE)—September 5, 2012 – Wind Works Power Corp. (OTCQB:WWPW.BBO - News)(Frankfurt:R5E1.F - News)(WKN: A0RPM2) is pleased to announce they have closed the sale of half of its 50% interest in a high voltage, 110kV Transmission facility. Proceeds from the sale exceed US$1 Million, specifically, 100,000 euro for the Transmission company shares plus an additional 750,000 euro in consideration for connecting a 15 megawatt solar plant. Wind Works delivered the facility turnkey on August 10th and plans to retain its remaining 25% interest. Wind Works will continue to manage the facility on an ongoing basis.
In addition to providing powergrid access for the solar farm, the high voltage substation of the Transmission facility is also providing access for Wind Park Burg I, our first 4 MW wind park that Wind Works is currently building for private investors under a Turnkey contract. A second phase, Wind Park Burg II, a 6 megawatt project is in development by Wind Works and will also use the Transmission facility.
“Solar energy is technically interesting as it usually peaks at peak power midday. Wind energy more often peaks under cloudy and stormy conditions, so both power sources complement each other allowing us to maximize the use of our substation capacity. With 30 Gigawatts currently installed in Germany for both Wind and Solar, we need these synergies to optimize the use of the powergrid. In addition, with a constantly decreasing feed-in tariff rate, Solar has now reached a pricing level below retail pricing in Germany. This makes the Energiewende exciting now! It pays off now to have added this Transmission facility to our business model” comments Dr. Ingo Stuckmann, Wind Works?President and CEO.
About Wind Works * Zero Emission PeopleOur 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
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