Wind Works Power Corp.’s mission is to become a leading developer of wind energy projects in North America. They have a variety of wind park projects in Canada and the United States. The Company has their headquarters in Ottawa, Ontario, Canada. They trade on the OTC Bulletin Board.
Wind Works Power Corp.’s projects include the Grey Highlands Wind Park, the Snowy Ridge Wind Park, the Skyway 126 Wind Park, the Polar Bear Wind Park, and the Pleasant Bay Wind Park in Ontario; in addition to the Settlers Landing Wind Park, Zorra Wind Park, Clean Breeze Wind Park, and Whispering Woods Wind Park. In the United States, Wind Works Power Corp. has their Grand Prairie Wind Park in Illinois and their Baker Wind Park in Montana.
In October, Wind Works and Zero Emission People LLC announced that they signed a definitive agreement whereby Wind Works will acquire all of the outstanding equity interests in Zero Emission People. This includes 10 wind-energy development projects totaling 375 megawatts (MW). Zero Emission People LLC is a privately held wind energy company.
Last Friday, Wind Works Power Corp announced that they signed an agreement to increase their equity interest from 50 percent to 100 percent in Settlers Landing Wind Park. The agreement calls for the issuance of 300,000 restricted common shares of Wind Works stock and the payment in cash of $450,000. The cash payment is subject to milestones.
Today, Wind Works Power Corp. announced that they signed an option agreement to acquire a 100 percent interest in Honelles, a 10-megawatt wind energy project located in Belgium. Wind Works will make an initial cash payment of $100,000 on January 15, 2010 and a further cash payment of $375,000 on March 15, 2010, in consideration for the 100 percent interest.
Dr. Ingo Stuckmann, CEO and director of Wind Works, commented, “I have led a team that has successfully developed over 1,500 megawatts of wind energy projects all over the world and one of the most attractive countries for the development of wind parks is Belgium. With the Honelles project, we will invest $1.1 million over the next two years and create an investment opportunity of $25 million, offering attractive leverage to our development dollars.”