Press Release
Wind Works Power Corp plans to expand its BURG site by another 9 MW
April 23, 2015
SCHENECTADY, NEW YORK, UNITED STATES, April 23rd, 2015 Wind Works Power Corp. (OTC: WWPW -News) is pleased to announce that it has obtained permits for another 9 MW at its Burg project site that it co-develops with partners. Wind Works made down-payments for 3 Vestas V112 wind turbines that have a capacity of 9MW. All three turbines have been sold, one turbine was sold to the Swiss Institutional Fund that purchased Burg III, while the other two turbines were sold to private investors with Wind Works retaining a 49% ownership stake in one of them. The investment value is approximately $18 Million and start of construction is anticipated for summer this year.
Wind Works is also pleased to announce that the 3MW Burg III project using a Vestas V112 turbine has successfully started operations now. Wind Works has previously sold the project to the Swiss Institutional Fund and constructed Burg III turnkey.
We continue our success from Burg I and Burg II projects with the completion of Burg III and plan to expand the site by Burg IV now to an installed capacity of 23.5 MW by the end of the year. In addition, we expand our ownership stake in the project. comments Dr. Ingo Stuckmann, Wind Works' President and CEO.
About Wind Works * Zero Emission People
Wind Works now operates 4.6 megawatts (MW) in Germany, in which it has a 49% ownership stake, expected to double to 9.2 MW by the end of the year. In addition, Wind Works is developing 50 MW of Feed-in Tariff contracted projects in Ontario with Capstone Infrastructure (an affiliate of Macquarie Infrastructure), plus an additional 10 MW on its own; 77 MW of near-term permitted projects in Germany; and a 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 10 tons each year (for Germany), it only takes a modern windmill 2 days by producing approx. 20,000 kilowatt hours of zero emission energy.
afe 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