Wind Works Power Corp. Enters Permitting Process for 150MW Project in North Dakota
September 12, 2011
OTTAWA, ONTARIO--(MARKET WIRE)—September 12, 2011 – Wind Works Power Corp. (OTCQB:WWPW.BBO - News)(Frankfurt:R5E1.F - News)(WKN: A0RPM2) is pleased to announce they have submitted a letter of intent with the North Dakota PSC to enter the permitting process for Thunder Spirit, a 150 megawatt (MW) wind energy project located in North Dakota.
Thunder Spirit recently emerged from a 5-year Midwest ISO (MISO) study process of 7,800 MW of North Dakota-Montana interconnection applications as the winning project with its unique attributes of both having almost no electric transmission system upgrade requirements and being located in one of the highest wind energy resource areas in MISO.
This combination results in uniquely superior economic attributes of the Thunder Spirit wind farm project, which has the ability to supply green, renewable energy at the lowest cost to utilities and their ratepayers.
“With our recently announced $20 million financing for Thunder Spirit, we are eager to continue our ongoing discussions regarding a Power Purchase Agreement and permitting in order to get the project construction ready within the next few months,”, comments Dr. Ingo Stuckmann, Wind Works? President and CEO. “Based on my experience developing the 180 MW Tatanka wind farm in North Dakota that became operational in 2008, we expect to start construction in 2012.”
Thunder Spirit can connect into the Midwest ISO power market, subject to completion of an Interconnection Agreement.
Project Highlights:
Wind resource in North Dakota is one of the highest resource in the Midwest ISO power market, which includes States such as North Dakota, Minnesota, Wisconsin, Iowa, and Illinois
Project qualified and entered the Definitive Planning Phase with the grid operator Midwest ISO in March 2010
Midwest ISO Queue position G752 for 150 MW
Power Purchase Agreement discussions ongoing
Construction costs are estimated at $300 Million.
About Wind Works * Zero Emission People
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 the US), it only takes a modern windmill 2 days by producing approx. 40,000 kilowatt hours of zero emission energy. For more information, please visit: www.windworkspower.com
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.
Wind Works Power Corp. © 2011
http://www.windworkspower.com/news_article.php?nid=45 |
