"We are excited to be submitting our first application for a power contract under the new Feed-in Tariff program in Ontario. We expect to submit a number of additional applications for other projects in our portfolio over the coming days as we approach the November 30th deadline," commented Dr. Ingo Stuckmann, CEO and director of Wind Works. "The granting of a power contract is a big milestone as it provides economic certainty and significantly increases the value and marketability of a project."
The Feed-in Tariff (FIT) contract program is part of the new Green Energy Act in Ontario and offers a power contract with a guaranteed rate of C$135.00/MWh over a 20-year term to qualified wind energy projects. The Ontario Power Authority (OPA) initial launch period deadline for FIT applications is November 30, 2009. This first launch period is designed for projects that were being developed under the Renewable Energy retired Renewable Energy Standard Offer Program (RESOP program) and are therefore further advanced.
Criteria of earlier commercial operation dates is one such factor in obtaining priority access to transmission availability. To be awarded a Power Purchase Agreement (PPA) under the FIT rules, the application has to be submitted in accordance with strict regulations which can be accessed in details via the OPA website at www.powerauthority.on.ca/
Clean Breeze is 10MW wind farm project located in Ontario, Canada in the Northumberland Hills. This project has been under development for over 3 years and is only 5kms from the north shore of Lake Ontario in an area of high elevation that can optimize the wind resources to a maximum. Annual mean wind speeds are measured at over 6.7 meters per second at an 80 m hub height. Wind Works’ mission is to become a leading developer of wind energy projects in North America and Europe.
The vision of Zero Emission People is to provide the opportunity for anyone to invest early in the development of renewable wind energy projects. As an example, as little as a $10,000 investment in a wind park blows away a person’s carbon footprint. We believe in making sound, environmentally conscious investments that are good for all shareholders, people and our planet.