estern Wind initiates solar photovoltaic developments with Solon America Corporation
VANCOUVER, Dec. 4 /PRNewswire-FirstCall/ -- Western Wind Energy is pleased to announce that it has, through its subsidiary, Western Solargenics Inc. ("Western"), executed a Cooperation Agreement with Solon (Nachrichten/Aktienkurs) America Corporation ("Solon"), a subsidiary of Solon A.G. of Germany.
Western and Solon will cooperate and combine their respective capabilities to enable the development of 5 to 40 megawatts of photovoltaic - solar energy projects in California and an additional 5 - 40 megawatts of photovoltaic - solar energy projects in Ontario, Canada.
Solon shall be the exclusive supplier of photovoltaic equipment and engineering, procurement and construction services. Western will develop, own and operate all of the projects pursuant to this Cooperation Agreement.
Solon A.G. is one of the world's leading producers of photovoltaic modules and specializes in the integration of photovoltaic technology, which makes it possible to convert sunlight into electricity. Solon is a profitable solar power company, having its capital shares traded on the XETRA in Germany under the symbol "SOO1." Solon's capital shares are currently trading at over US $100 per share equivalent, and has a market capitalization of over US $1.2 billion.
Western Wind Energy is the largest producing pure wind energy, publicly traded company (non-income trust) in North America. Western Wind Energy currently produces 34.5 MW of energy from over 500 wind turbine generators located in Southern California. Western Wind also has over 155 MW of expansion power sales agreements with the associated projects in the late stage of development. In addition, Western Wind Energy has a credible pipeline of over 1,300 MW of site locations in the State of California.
Western Wind Energy currently produces clean renewable electrical energy from over 500 wind turbine generators located in Tehachapi (Windridge) and San Gorgonio Pass (Palm Springs), California. Western Wind Energy's annualized energy output is approximately 75 billion watt hours per year. During the past two years, Western Wind Energy has executed or acquired over $1 billion of power sales agreements totaling 154.5 megawatts from the sale of wind energy electrical generation, to two separate utilities. Western Wind Energy was the first to execute a "wind" PPA in the State of Arizona, and in California, is expanding from management's 26-year continuous operating history in the Tehachapi Pass.
Western Wind Energy is in the business of acquiring exceptional land sites, capital and technology for the production of electricity from wind energy. Western Wind Energy conducts its operations through its wholly owned subsidiaries in Arizona and California. Management of Western Wind Energy 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 Chief Executive Officer The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Certain statements included herein are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Management cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statement. Important factors that could cause the actual results of operations or financial condition of the Company to differ include, but are not necessarily limited to, the risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission. |
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