Wind Works Power Corp. (OTC BB:WWPW.OB; R5E1.F) 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” said 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 20MW of wind energy 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.”
Contract applications have been submitted for the following Ontario projects:
Grey Highlands Wind Park: 100% interest in a 10 MW project 25kms south of Georgian Bay, Ontario, Canada
Snowy Ridge Wind Park: 100% interest in a 10 MW project in the vicinity west of the village of Bethany, Ontario
Settlers Landing Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located near Pontypool, Ontario
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
Polar Bear Wind Park: 50% interest (with an option to increase to 100%) in a 20MW project located in Ontario
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
Zorra Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located northwest of Woodstock, Ontario
Whispering Woods Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located near Millbrook, Ontario
Clean Breeze Wind Park: 50% interest (with an option to increase to 100%) in a 10MW project located in Ontario
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 was 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.
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