Windstar Update - 80% of Project Now CompleteBy Western Wind Energy Corp., PRNE
Tuesday, September 20, 2011
VANCOUVER, September 21, 2011 -
Toronto Stock Exchange (Venture) Symbol: “WND”
OTCQX Symbol: “WNDEF“
Issued and Outstanding: 59,780,539
Western Wind Energy Corp. - (Toronto Venture Exchange - “WND”) (OTCQX - “WNDEF”), is pleased to announce that 80% of our flagship 100% owned Windstar Project is now complete. 70% of all the Nacelles have been installed on top of the towers, 75% of the rotors are either built or installed and the two main sub-stations are virtually complete. The interconnecting utility has advised energization before November 11th, 2011 and as early as October 14th, 2011. After energization, commissioning will begin on the first 106 MW and the remaining 14 MW will be delivered in early December, with installation before Christmas. Revenue service on the 106 MW should begin shortly after energization and the completed 120 MW Project by year-end.
Western Wind will be applying to the US Treasury for up to $108 million in tax-free cash grants for both Kingman and Windstar. The Kingman application of almost $10 million will be filed very shortly, and the $98 million Windstar application within several days of the Windstar completion. The regulations call for the cash grant to be paid within 60 days.
About Western Wind Energy Corp.
Western Wind Energy Corp. (OTCQX: WNDEF; TSX.V: WND) trades in the United States on the OTCQX under the symbol “WNDEF” and the Toronto Venture Exchange under “WND”. Western Wind is a vertically integrated renewable energy production company that currently owns over 500 wind turbines and solar fields with 165 MW of rated capacity either in production or in construction in the States of California and Arizona. Western Wind further owns substantial additional development assets for both solar and wind energy in California, Arizona, and Ontario, Canada; and in the Commonwealth of Puerto Rico.
Western Wind is in the business of owning and acquiring land sites and technology for the production of electricity from wind and solar energy. Management of Western Wind includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.
ON BEHALF OF THE BOARD OF DIRECTORS "SIGNED" Jeffrey J. Ciachurski President & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this press release constitute “forward-looking statements” under applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as “expects”, “anticipates”, “intends”, “projects”, “plans”, “will”, “believes”, “seeks”, “estimates”, “should”, “may”, “could”, and variations of such words and similar expressions are intended to identify such forward-looking statements. Such statements in this news release include, but are not limited to, the Company’s discussion concerning the Offer. These statements are based on management’s current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Such factors include, but are not limited to, the state of the Company’s business activities and various factors discussed in the Company’s annual report and annual information contained in the Company’s 20F Annual Report filed with the United States Securities and Exchange Commission and securities regulators in Canada. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
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