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.
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?s=WWPW&t=LIST&m=31709642&l=0&pd=0&r=0&msg=3#r4KKwkPzFk4ZwgsR.99