Wind Works Power Corp. Enters Joint Venture to Build and Operate Transmission Facility in Germany
05 Agosto 2011 - 3:30PM
Marketwired
Wind Works Power Corp. (OTCQB: WWPW)(PINKSHEETS: WWPW)(FRANKFURT:
R5E1)(WKN: AORPM2) is pleased to announce it has entered into a
joint venture with Aquavent to build a high voltage, 110kV
substation near its Burg I project site in Germany.
The substation will provide an interconnect for Wind Works' 100%
owned Wind Park Burg I and II projects, totaling 10 megawatts (MW).
On July 6, 2011, Wind Works announced that Wind Park Burg I is
fully permitted, fully financed, and will commence construction
this Fall. Wind Park Burg II is expected to commence construction
in the Fall of 2012.
The substation, with an approximate cost of 1.5 million Euro ($
2.1 million), will be fully financed through the Burg I debt and
equity project financing that is already in place. The substation
will not only be available to connect Wind Park Burg I and II, but
an additional 20MW in the same region, which Aquavent and other
developers are planning. Once 30MW have been connected, Wind Works
expects to generate recurring revenue by operating the substation
equal to a 10% return on equity.
"This substation is a new business opportunity for Wind Works,
and will create a new, recurring revenue stream for the Company",
comments Dr. Ingo Stuckmann, Wind Works' President and CEO." We are
interested in owning transmission as it facilitates renewable
energy projects. In addition, by providing critical transmission
access, Wind Works intends to foster its original development
activities, including the acquisition of new projects in the
vicinity of our new substation."
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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