Wind Works Power Corp`s Innovative 3 MW Project Achieves Commercial Operation in Germany
July 6, 2016
SCHENECTADY, NEW YORK, UNITED STATES, July 6th, 2016 - Wind Works Power Corp. (OTC:WWPW -News) is pleased to announce that its 3 MW (BAD) windfarm consisting of 1xEnercon E101 3MW wind turbine in Germany with 135m hub height has achieved commercial operation.
Wind Works had signed a turbine supply agreement and made a down-payment to Enercon. Wind Works has financed the project and constructed the project turnkey for investors with an approximate investment value of $6 Million. Wind Work's retains a majority stake ownership in the project.
The innovative project cannot only sell power under a 20 year fixed Feed-In Tariff since nearby businesses would allow for a direct powerline connection, potentially allowing a direct sale of windpower. It is of strategic interest for Wind Works to pursue this novel approach to potentially increase revenues. Given Germany`s current revisions of the electricity market laws, the exact terms are still to be determined.
'With over 30% renewables in the power market today, Germany is adapting its power market laws towards 'flexible market instruments' in order to avoid the costs of a capacity market', comments Dr. Stuckmann, Wind Works President and CEO, 'this project is a start to fully use these new market opportunities early on, before we go to 45% cheap renewables in Germany by 2025, and, 100% by 2050, in compliance with the Paris COP21 world climate treaty.'
About Wind Works * Zero Emission People
Wind Works now operates 13 megawatts (MW) in Germany, in which it has an approx. 50% ownership stake. In addition, Wind Works is developing 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.
Wind Works is a certified Zero Emission Company. 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 1 day by producing approx. 20,000 kilowatt hours of zero emission energy.
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