Purchase Agreement Moves Wind Power Plan

Western Wind Energy Corporation’s subsidiary, Eastern Wind Power secured a final and binding 20-year power purchase agreement with New Brunswick Power. The agreement calls for the company to produce and sell through Eastern Wind Power the available output of 20 MW of wind power from its new wind farm to be located near Dark Harbour, Grand Manan, New Brunswick.

Western Wind Energy will own, operate and maintain the wind farm. Eastern Wind Power won the contract after following up on a Request for Proposal released by Brunswick Power. The agreement has confidentiality provisions which prohibit the disclosure of price and capacity factor however, the project is expected to produce over CAD$90 million (US$ 70.7 million) in revenues over a 20 year period. The capital cost of the project is expected to be under CAD $30 Million (US$23.5 million). Western Wind Energy also received from the Department of Environment and Local Government, Province of New Brunswick, a Certificate of Determination to Proceed, as specified in the Company’s Environment Impact Assessment. The company is in advanced negotiations with several large Canadian financial institutions to provide project financing for the 20 MW Grand Manan project. Final equipment selection and project details are being determined now. Western Wind Energy is a vertically integrated developer of wind energy electrical generation projects in the Southwestern United States and Eastern Canada. Currently, the Company has 535 megawatts of advanced stage wind projects in development including the first ever wind energy power purchase agreement executed in the State of Arizona and the Province of New Brunswick.
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