Wind Works Power Corp. Acquires 100% Interest in Wind Park Burg II, Germany
28 Julio 2011 - 3:15PM
Marketwired
Wind Works Power Corp. (OTCQB: WWPW)(PINKSHEETS: WWPW)(FRANKFURT:
R5E1)(WKN: AORPM2) is pleased to announce they have exercised an
option to acquire a 100% project based, equity stake in Wind Park
Burg II. Wind Park Burg II is a 6 megawatt (MW) wind energy project
located near Magdeburg in the eastern part of Germany.
As announced on July 6, 2011, Wind Park Burg I, the 4MW phase I
of the total 10MW project, is now fully financed, fully permitted,
and scheduled to commence construction this fall.
Wind Park Burg II Highlights:
-- Power Sales via Feed-in Tariff at 9.52 Euro cents for 20 years
-- Permitting expected to be fully completed by mid-2012, with a
construction start-date in the fall 2012
-- 3 x 2 MW wind turbines are specified for the project
-- Site has one of the best wind resources in Germany
-- Investment value once constructed (subject to raising debt and equity
financing): $15 Million Euro.
"With the first phase of this project ready to commence
construction this fall, we were eager to acquire Phase 2 with plans
for a construction start date in fall 2012", comments Dr. Ingo
Stuckmann, Wind Works' President and CEO "We see great opportunity
in the German market, and will continue to expand our interests
there as part of our global diversification strategy."
Wind Works exercised their exclusive option to acquire a 100%
stake in Wind Park Burg II for 1,500,000 Euro, payable according to
milestones, in cash or shares at the sole discretion of Wind
Works.
About Wind Works (i) Zero Emission People
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. For more information,
please visit: www.windworkspower.com
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.
Contacts: Investor Relations Taylor Capitol, Inc. Stephen Taylor
(973) 351-3868 info@thestockalerts.com www.thestockalerts.com
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