Source: Wind Works Power Corp.
Wind Works Power Corp. (OTCBB:WWPW) is pleased to announce it has acquired a 75 percent interest in Thunder Spirit, a 150-megawatt (MW) wind energy project located in North Dakota. The Project will connect into the Midwest Independent System Operator`s (Midwest ISO) power market, subject to completion of the facilities study. Commencement of construction is currently planned for 2012. The Thunder Spirit project increases Wind Works' pipeline in the United States to 425 MW.
-- Wind resource in North Dakota is 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 by submitting a $260,000 deposit;
-- Midwest ISO Queue position G752 for 150 MW;
-- Power Purchase Agreement negotiations starting now;
-- Construction costs are estimated at $300 Million.
Terms of the acquisition of a 75 percent interest in the project include payment of the $260,000 interconnection deposit, which has been made to the Midwest ISO, as well as development costs to get the project ready for construction.
"Thunder Spirit is of particular interest given its proximity to the 180 MW Tatanka Wind Farm in North Dakota, which has been operational since 2008", comments Dr. Ingo Stuckmann, Wind Works' President and CEO." I personally managed the development of Tatanka, so we know the area very well and I know how the MISO power market works. We are now seeking a strong financial partner that is interested in a joint venture on Thunder Spirit as we look to secure a power purchase agreement for a potential 2012 construction start date."
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