Wind Works Power Corp signs agreement for its 5 MW Weiler III Wind Farm in Germany
June 23, 2016
SCHENECTADY, NEW YORK, UNITED STATES, June 23, 2016 - Wind Works Power Corp. (OTC:WWPW -News) is pleased to announce that it has signed an agreement for its 5 MW Weiler III project in Germany with a municipal utility consortium in Germany. The 5MW project was acquired construction ready from a private developer last year. It consists of 2 x Nordex N117 wind turbines with an investment value of approx. $10 Million once completed.
Wind Works achieved financial closing including the downpayment to Nordex already last year. Wind works is currently constructing the project and anticipates completing the work by this summer. Wind Works will co-own a minority share in the wind farm in partnership with the municipal utility consortium. Last year, Wind Works signed a similar agreement for a 10MW wind farm, which is currently under construction as well.
'We are excited to strategically partner with a strong municipal consortium to co-own and operate the second of our projects.' comments Dr. Ingo Stuckmann, Wind Works President and CEO. 'It is our intention to build up operating assets.'
About Wind Works * Zero Emission People
Wind Works now operates 10 megawatts (MW) in Germany, in which it has an approx.. 50% ownership stake. 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.
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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