Western Wind Completes Acquisition

NAW Staff, Tuesday 25 July 2006 - 01:00:00

Western Wind Energy has completed the purchase of the Mesa Wind Project outside Palm Springs, Calif., for approximately $13.4 million. The transaction was a complicated merger that included most of the assets of PAMC Management Corp., AltaMesa Energy LLC, Mesa Wind Developers, Enron Wind Systems LLC, Zond-PanAero Windsystem Partners I and II and Mesa Wind Power Corp. The entire asset package will be incorporated by Western Wind Energy as a wholly owned subsidiary.

The Mesa Project has a 22-year continuous operating history with an historical average yearly production of 75 billion watt-hours. The site is currently powered by 460 V-15 Vestas wind turbines. Western Wind expects the output to improve significantly once the company repowers the facility.

Western Wind was joined in the transaction by Pacific Hydro Pty Limited, which provided a short-term loan to Western Wind to facilitate the acquisition.



this content item is from North American Windpower
( http://www.nawindpower.com/e107_plugins/content/content.php?content.64 )