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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wind Works Power Corporation (CE) | USOTC:WWPW | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
OTTAWA, ONTARIO--(MARKET WIRE)—December 11, 2012 – Wind Works Power
Corp. (OTCQB:WWPW.BBO - News)(Frankfurt:R5E1.F - News)(WKN: A0RPM2) is
proud to announce that its wholly-owned affiliate Zero Emission People
Capital GmbH has acquired a 49% interest in an operating Wind Farm for
$1 Million, with an option to increase its equity stake to 75%. “Zero
Emission People Wind Farm No. 1” is a 4.6 megawatt (MW) wind farm
located near Duisburg, Germany.
The Wind Farm was built in late 2011, with two 2.3 MW Enercon E70 wind
turbines. It is subject to a 20-year feed-in tariff payable according to
German federal law. Enercon has provided a 15-year full warranty on the
turbines with a technical 97% availability guarantee.
Total project investment was $6.5 million, of which 70% is debt and 30%
equity. The debt was financed with a 16-year loan at 4%, and the equity
was financed with a project-specific two-year debenture. Through the
sale of power, the Wind Farm will generate approximately $650,000 in
annual revenue.
“We are very excited to acquire our first producing asset, which along
with the royalty we earn on Wind Park Burg 1, will generate a steady
stream of revenue for Wind Works” comments Dr. Ingo Stuckmann, Wind
Works President and CEO. “We plan to continue to grow our revenue base
by building out a number of projects currently in our development
pipeline in Germany; Ontario, Canada; and The United States.”
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.
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