Wind Works Power Corp (WWPW) Signs LOI with Sprott
Wind Works Power Corp (WWPW) Signs LOI with Sprott Power Corp
if you guys are looking for a Wind Power company that is undervalued and on the verge of taking off, you should do your research on Wind Works Power Corp (WWPW). They are getting all their ducks in a row and setting up to rocket. On Sept 24, 2012 they went into commercial operation, the company is technically sound, has projects that will start generating revenue soon and it is entering into JV's with other large and solid Wind companies. They recently signed a LOI with SPZ to sell 90 MW of contracted capacity with the Ontario Power Authority under the FIT program in Ontario, Canada. When the company starts their promo campaign, this thing is going to the moon.
Here's just a taste of what just happened. GLTA!
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Wind Works Power Corp. Signs Letter of Intent with Sprott Power Corp.
October 29, 2012
OTTAWA, ONTARIO--—October 29, 2012 – Wind Works Power Corp. (OTCQB:WWPW.BBO - News)(Frankfurt:R5E1.F - News)(WKN: A0RPM2) is pleased to announce it has entered into a Letter of Intent with Sprott Power Corp. to sell interests in and co-develop several projects owned by Wind Works (through its wholly-owned subsidiary Zero Emission People, LLC) representing up to 90 MW of contracted capacity with the Ontario Power Authority under the FIT program in Ontario, Canada.
Sprott Power previously assumed the position of a secured lender in the projects, and continues to actively participate with Wind Works in project development and in providing additional development funding to the projects.
The transaction will be subject to standard conditions including receipt of any consents required from the Ontario Power Authority, and other third parties.
About Wind Works * Zero Emission People
Wind Works has 90 megawatts of FIT projects in Ontario, Canada; 27 megawatts of near-term permitted projects in Germany; and 475 megawatts of projects under development 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 20 tons each year (for Canada), it only takes a modern windmill 2 days by producing approx. 40,000 kilowatt hours of zero emission energy.
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Wind Park Burg I Now in Commercial Operation
September 24, 2012
OTTAWA, ONTARIO September 24, 2012 – Wind Works Power Corp. (OTCQB:WWPW.BBO - News)(Frankfurt:R5E1.F - News)(WKN: A0RPM2) is proud to announce they have successfully built their first wind farm, a 4 megawatt, $12 million project located in Germany. Wind Park Burg I was delivered turnkey to private investors on September 18, 2012 and has officially commenced commercial operations.
On January 19, 2012, Wind Works announced the sale of Burg I for a turnkey sales price of $12 million, payable according to milestones. In addition, Wind Works will earn a 1% royalty on gross revenues of the wind farm, with the potential to increase the royalty to 2% based on actual performance targets.
"After building and delivering a turnkey transmission facility last month, including a 110kV high voltage substation, we are pleased to have successfully completed the turnkey construction of our first wind farm in Germany”, comments Dr. Ingo Stuckmann, Wind Works’ President and CEO. “We have now proven we can deliver wind farm projects on time and within budget, and we look forward to continuing this success with a number of additional projects, starting with Wind Park Burg II, which we expect to be in construction Q2 2013.”