Welwind Receives Finance Commitment For Canadian Wind Project

NAW Staff, Wednesday 10 December 2008 - 01:00:00

San Diego-based Welwind Energy International Corp. has received a letter of intent to finance its 200 MW wind farm project located in southern Alberta, Canada. The value of the 200 MW project is in excess of $400 million.

As previously announced, Welwind has come to a term agreement with Windcor Power Systems to create a joint venture partnership on various projects located in Canada.

"With the funding commitment that is in place, we will be able to complete all of our project goals in 2009, including the Peace project, Zhanjiang, Yangxi and Ningxia," says Shannon de Delley, director of Welwind.

Over three years of wind data have been collected at the southern Alberta project site. The energy yield for the project shows a steady class of wind that will produce a low turbulent output.

The companies say that they will work to have this project construction ready in 2009, with the electricity to be sold to the Alberta Power Pool.

SOURCE: Welwind Energy International Corp.




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