OTTAWA, ONTARIO - December 18, 2013- Wind Works Power Corp. (OTC:WWPW - News)(WKN: A0RPM2) is pleased to announce that Wind Park Burg II, a 6.9 megawatt project located in Germany, is now operational.
Wind Park Burg II is comprised of 3 Enercon E82 turbines, 2.3 MW per turbine. The project was developed by Wind Works, and sold turnkey to investors - two turbines were sold to Stadtwerke Augsburg, a municipal utility near Munich, Germany; and the third turbine was sold to a Swiss Institutional Fund based in Zurich. Wind Park Burg II will interconnect at the substation that Wind Works built turnkey in 2012, owns a 25% equity stake in, and continues to manage.
With the Swiss Fund, Wind Works has negotiated an option for an investment in the equity of the project of up to a 24% stake. Wind Works will also have the right to re-purchase the entire project after 15 years. Additionally, Wind Works has been granted a 2-year option to participate in one of its existing, operational wind farms, with up to a 30% equity stake for approximately $2 Million.
About Wind Works * Zero Emission People
Wind Works now operates 4.6 megawatts in Germany, in which it has a 49% ownership stake. In addition, Wind Works is developing 77 megawatts of near-term permitted projects in Germany; 50 megawatts of FIT contracted projects in Ontario with Capstone Infrastructures, plus an additional 20 megawatts on its own; and 425 megawatts of projects in the United States.
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.
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