(TheNewswire)
SCHENECTADY, NEW YORK, UNITED STATES / TheNewswire / August 23 rd
, 2017 Wind Works Power Corp. (OTC:WWPW -News) is pleased to announce that it has completed its Ontario projects consisting
of 24xSenvion 2MW MM100 turbines. Wind Works had developed the projects in Ontario and applied for and received the FIT contracts
from the Ontario Power Authority in 2010. Wind Works joined forces with Capstone Infrastructure in a joint venture, which
eventually acquired the remainder of the projects after commercial operation was achieved. The projects total 48MW and include the
Wind Works projects Ganaraska, Grey Highland ZEP, Settlers Landing, and Snowy Ridge, all of which have achieved commercial
operation.
Wind Works has agreed with the government of Ontario to terminate the FIT contract applied for in 2009 and
awarded in 2010 to the Cloudy Ridge project. The project received its REA permit from the Government of Ontario in December 2015.
Wind Works had furthermore increased the interconnection deposit by approx. CAD $5.5M in December 2015 after HONI had previously
changed the POI and PCC of the project due to other projects dropping out. Wind Works had also made down payments for 5 wind
turbines from Senvion which have been manufactured and were awaiting onsite transport. Despite the late stage development process,
given repeated governmental uncertainties, Wind Works was forced to terminate the FIT contract.
Given that the government of Ontario recently cancelled the previously repeatedly announced second bidding
process for up to 850 MW renewable energy, and given the loss incurred by Cloudy Ridge due to repeated governmental uncertainties,
Wind Works has decided to terminate any activities in the uncertain and unpredictable Ontario renewable energy market.
Consequently, WW has cancelled its previous plans to invest a further $300 Million in Ontario and to focus instead on the US
market.
About Wind Works * Zero Emission People
Wind Works now operates 13 megawatts (MW) in Germany, in which it has an approx. 50% ownership stake. In
addition, Wind Works is developing a pipeline of 150MW projects in Germany; and a project pipeline in the United States.
Wind Works is a certified Zero Emission Company. 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.
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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