Press Release
Wind Works Power Corp. Announces Commencement of Construction at Wind Park Burg 3 Project in Germany
September 11, 2014
OTTAWA, ONTARIO September 10, 2014 Wind Works Power Corp. (OTC:WWPW - News)(WKN: A0RPM2) is pleased to announce that Wind Park Burg 3, a 3 megawatt (MW) project located in Germany, is now fully financed and under construction.
Wind Park Burg 3 is comprised of 1 Vestas 3MW V112 with a 140 meter hub height. Project financing was closed last month and construction has commenced with an online date expected in Spring 2015.
Wind Park Burg 3 was sold last year to a Swiss Institutional Fund based in Zurich. Wind Works has negotiated an option for an investment in the equity of the project of up to a 24% stake. Wind Works will also have the right to re-purchase the entire project after 15 years. Additionally, Wind Works has been granted a 2-year option to participate in one of the Swiss Funds existing, operational wind farms, with up to a 30% equity stake for approximately $2 Million.
Wind Park Burg 3 will interconnect at the substation that Wind Works built turnkey in 2012, owns a 25% equity stake in, and continues to manage.
About Wind Works * Zero Emission People
Wind Works now operates 4.6 megawatts (MW) in Germany, in which it has a 49% ownership stake. In addition, Wind Works is developing its permitted and contracted 105 MW Thunder Spirit project in North Dakota, 50 MW of Feed-in Tariff contracted projects in Ontario with Capstone Infrastructure (an affiliate of Macquarie Infrastructure), plus an additional 20 MW on its own; 77 MW of near-term permitted projects in Germany; and a 320 MW project pipeline 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 20 tons each year (for the US), it only takes a modern windmill 2 days by producing approx. 40,000 kilowatt hours of zero emission energy.
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.
For additional information, please contact: Investor Relations ir@windworkspower.com