Wind Energy America Inc. (OTCBB:WNEA) announced today that it will acquire the assets of Minnesota-based Boreal Energy Inc. in a tax-free exchange for WNEA common stock.
WNEA said it expects to exchange 30 million common shares of WNEA for the assets, including Boreal’s interests and development rights to all its wind energy projects, certain wind turbine equipment, and other assets related to wind farms and projects on Buffalo Ridge in southwestern Minnesota.
Boreal is a wind farm developer, owner and operator based in Minnesota which owns or controls significant interests and rights in and to an extensive “pipeline” of wind energy projects under development in the upper Great Plains, the Midwest and Canada. The Boreal pipeline includes approximately 1,200 megawatts (MW) in various phases of design or development, which the company says are located in some of the most favorable wind regimes in North America for generation of electricity from wind power turbines.
About Wind Energy America Inc.
Wind Energy America Inc. holds and is continuing to acquire significant ownership interests in wind farms in the Midwest and upper Great Plains regions of the USA. These regions are particularly suitable for wind energy since they feature sparsely populated and extensive flat prairies having both high and consistent wind speeds.
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