Press Release
Wind Works Power Corp. Acquires Interest in 6 New Wind Energy Projects in Ontario totaling 80 MW.
December 14, 2009
OTTAWA, ONTARIO--(MARKET WIRE)—December 14, 2009 – Wind Works Power Corp. (OTC BB:WWPW.OB - News)(Frankfurt:R5E1.F - News)(WKN: AOKE72) is pleased to announce it has acquired a 50% interest in 6 wind energy projects totaling 80 megawatts (MW) located in Ontario, with an option to increase its interests to 100%. All 6 projects submitted power contract applications on November 30th under the new Feed-in Tariff program as part of the Ontario Power Authority initial launch period.
“With these 6 new projects, we now have a total of 15 wind energy projects in Ontario totaling 190 MW” commented Dr. Ingo Stuckmann, CEO and director of Wind Works. “All 15 projects submitted power contract applications to the OPA, which offers the highest power rate in North America. Power contracts in Ontario will be awarded in the January to March 2010 time frame, and we are now targeting to commence construction on a minimum of 70MW in Ontario in 2011.”
In consideration for the 50% interest in the 6 wind projects, Wind Works will make a one-time cash payment of $300,000 on April 30, 2010, and issue 1,200,000 restricted common shares.
Power contract applications have now been submitted for the following Ontario projects:
1. Ganaraska Wind Park: 50% interest (option to increase to 100%) in a 20 MW project north of Oshawa
2. Stonetown Wind Park: 50% interest (option to increase to 100%) in a 10 MW project near St. Mary
3. Pioneer Wind Park: 50% interest (option to increase to 100%) in a 10 MW project near St. Thomas
4. Field Breezes Wind Park: 50% interest (option to increase to 100%) in a 10 MW project east of London
5. Northern Lights Wind Park: 50% interest (option to increase to 100%) in a 10 MW project near Markdale
6. Lakeside Breezes: 50% interest (option to increase to 100%) in a 20 MW project south of London
7. Grey Highlands Wind Park: 100% interest in a 10 MW project 25kms south of Georgian Bay, Ontario, Canada;
8. Snowy Ridge Wind Park: 100% interest in a 10 MW project in the vicinity west of the village of Bethany, Ontario, Canada;
9. Settlers Landing Wind Park: 50% interest (option to increase to 100%) in a 10MW project located near Pontypool, Ontario, Canada;
10. Skyway 126 Wind Park: 70% interest in a 10 MW project located in Grey-Highlands Township, Ontario, Canada on the north east side of the Garafraxa Plateau, the highest land mass in Ontario;
11. Polar Bear Wind Park: 50% interest (option to increase to 100%) in a 20MW project located in Ontario, Canada;
12. Pleasant Bay Wind Park: 50% interest (option to increase to 100%) in a 20MW project located in an area just north of the shores of Lake Ontario that has one of the best wind regimes in Ontario;
13. Zorra Wind Park: 50% interest (option to increase to 100%) in a 10MW project located northwest of Woodstock, Ontario, Canada;
14. Whispering Woods Wind Park: 50% interest (option to increase to 100%) in a 10MW project located near Millbrook, Ontario, Canada; and
15. Clean Breeze Wind Park: 50% interest (option to increase to 100%) in a 10MW project located in Ontario, Canada.
The Feed-in Tariff (FIT) contract program is part of the new Green Energy Act in Ontario and offers a power contract with a guaranteed rate of C$135.00/MWh over a 20-year term to qualified wind energy projects. The Ontario Power Authority (OPA) initial launch period deadline for FIT applications was November 30, 2009. This first launch period is designed for projects that were being developed under the Renewable Energy Standard Offer Program (RESOP) and are therefore further advanced. Criteria of earlier commercial operation dates is one such factor in obtaining priority access to transmission availability. To be awarded a Power Purchase Agreement (PPA) under the FIT rules, the application has to be submitted in accordance with strict regulations which can be accessed in details via the OPA website at www.powerauthority.on.ca/
About Wind Works
Wind Works’ mission is to become a leading developer of wind energy projects in North America and Europe. For more information, please visit: www.windworkspower.com
About Zero Emission People
The vision of Zero Emission People is to provide the opportunity for anyone to invest early in the development of renewable wind energy projects. As an example, as little as a $10,000 investment in a wind park blows away a person’s carbon footprint. Specifically, each person in North America has a personal 20-ton CO2 footprint every year that is off-set by the wind energy production of approximately 50,000 kilowatt hours resulting out of such $10,000 investment. We believe in making sound, environmentally conscious investments that are good for all shareholders, people and our planet.
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:
Wind Works Power Corp.
Investor Relations
1-877-301-9748
http://www.windworkspower.com
Source: Wind Works Power Corp.