Toronto Stock Exchange (Venture) Symbol: "WND"
Issued and Outstanding: 45,979,397
VANCOUVER, Aug. 24 /CNW/ - Western Wind Energy Corp ("Western Wind") is
pleased to announce a major wind turbine reservation order with Gamesa for the
procurement of up to 120 MW of wind turbine generators. The Windstar Project,
located in Tehachapi California, will consist of Gamesa G80 2-MW, G87 2-MW and
G52 850-KW turbines. This flexible product mix is capable of harnessing the
uniquely varied wind regime of the Windstar site. Although the terms of the
deal are confidential, the order is valued at over $160 million.
The decision to select Gamesa was based on an extensive 12 month
evaluation of the various wind turbine manufacturers deemed bankable by major
lending institutions. Gamesa, having soundly satisfied the above criteria,
offers a robust technologically advanced product, comprehensive after-sale
maintenance, and a customer-first orientation. Western Wind has paid a deposit
and will pay the bulk of the proceeds from the previously announced Manulife
Financing subject to financial closing conditions satisfactory to Manulife.
Beginning with the research and development of wind turbine technology,
Gamesa manufactures the critical components and assembles wind turbines in 32
production centers worldwide. Gamesa offers development, installation and
after-sale-service to clients across 20 countries. As one of the largest wind
turbine manufacturers in the world, Gamesa has installed more than 16,000 MW
of renewable energy from non-depleting sources. The annual equivalent of this
production exceeds 5.45 million tons of petroleum (TPE) per year and prevents
the emission of over 34 million tons of CO(2) per year. Gamesa's portfolio
includes more than 21,000 MW of wind assets in various stages of development
across Europe, Asia and the United States. Gamesa sales in 2008 were $5.51
billion with a net profit of $464 million.
About Western Wind Energy Corp.
Western Wind is a vertically integrated renewable energy electrical
production company that currently owns over 500 wind turbines with 34.5 MW of
rated capacity and a further 120MW of expansion power purchase agreements in
the State of California. Western Wind further owns additional development
assets for both Solar and Wind Energy in California, Arizona, Ontario, Canada
and a development team 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 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
Jeffrey J. Ciachurski
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",
"anticipated", "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
intended use of proceeds from the Offering. 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 express or implied by such statements. Such
factors include, but are not limited to, the Company's ability to secure a
letter of credit on behalf of Southern California Edison, that the funds
raised are sufficient to advance its projects as anticipated, and the other
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.
For further information:
For further information: WESTERN WIND ENERGY CORP., 1326 - 885 WEST
GEORGIA STREET, Telephone: (604) 685-WIND (9463), VANCOUVER, BC, V6C 3E8,
Facsimile: (604) 685-9441, www.westernwindenergy.com