Press Release
Wind Works Power Corp Closes Financing and Starts Construction of its 10MW Wind Farm in Germany
October 30, 2015
SCHENECTADY, NEW YORK, UNITED STATES, October 30, 2015 Wind Works Power Corp. (OTC:WWPW -News) is pleased to announce that it has closed non-recourse project financing with environmentally friendly GLS-Bank (www.gls.de) in Germany. The 10MW project was acquired construction ready from a private developer earlier this year. It consists of 4 x Nordex N117 wind turbines with an investment value of approx. $20 Million once built.
We are happy to continue to finance wind farms in Germany says Matthias Weiler of GLS. They fit our environmentally friendly-only business model.
Wind Works has started construction of the project, with completion anticipated by mid-2016. Wind Works will co-own and operate the wind farm in partnership with a municipal utility consortium.
We are excited about our new business model to buy construction ready wind farms that we intend to finance, build, own and operate with strategic partners. 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 Infrastructures (an affiliate of Macquarie Infrastructures), plus an additional 10 MW on its own; 77 MW of late stage 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 clean and 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