Wind Works Power Corp. (OTCBB: WWPW)(FRANKFURT: R5E1)(WKN: AOKE72) is pleased to announce it has submitted power contract applications for 8 wind energy projects representing a total of 100 megawatts (MW) under the new Feed-in Tariff program as part of the Ontario Power Authority initial launch period.
"Wind Works has now submitted power contracts for 9 wind energy projects totaling 110MW, which includes the 10MW Clean Breeze project which was submitted earlier" commented Dr. Ingo Stuckmann, CEO and director of Wind Works. "We look forward to being awarded power contracts, as our stated objective is to commence construction on a minimum of 20 MW of wind power projects in Ontario by 2011. With our recently announced financing, plus the proceeds from the flow-through funds that we are raising up until the end of the calendar year, we will have sufficient capital to continue development of our project portfolio resulting in materially significant value being added to the Company."
Power contract applications have now been submitted for the following Ontario projects:
1. Grey Highlands Wind Park: 100% interest in a 10 MW project 25kms south of Georgian Bay, Ontario, Canada;
2. Snowy Ridge Wind Park: 100% interest in a 10 MW project in the vicinity west of the village of Bethany, Ontario, Canada;
3. Settlers Landing Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located near Pontypool, Ontario, Canada;
4. 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;
5. Polar Bear Wind Park: 50% interest (with an option to increase to 100%) in a 20MW project located in Ontario, Canada;
6. Pleasant Bay Wind Park: 50% interest (with an 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;
7. Zorra Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located northwest of Woodstock, Ontario, Canada;
8. Whispering Woods Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located near Millbrook, Ontario, Canada; and
9. Clean Breeze Wind Park: 50% interest (with an 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 is 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/
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
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. 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.
