Jeff Ciachurski, President of Western Wind Energy states “We are extremely pleased about having reached this milestone on our flagship “Windstar” Project. 2011 is an exceptional year for Western Wind as we have brought online, two new projects, totaling 130.5 MW of rated capacity, an increase of almost 400% of our previously producing capacity base. With 165 MW online within the next two weeks, from four different projects, Western Wind is in a position to move from a small developer/producer to a full mid-level integrated independent power producer, with a focus on renewable energy only.
To have built $340 million of projects this year, without any dilution at either the corporate or project levels, is a testament to the gold medal effort of the whole Western Wind team. I am very proud to be leading this effort and I believe the market is reflecting this by being the only renewable energy company that has had its market capitalization substantially increase over the past two years. Our share value is up almost 400% from March 2009 whereas the entire remainder of the renewable energy industry is, on average, down 80% – 90% over the same period.
With the incoming cash grants of over $100 million between Kingman and Windstar, and the strong revenues and cash flows commencing January 1, 2012, we are proud to say that the Q2 2012 reporting period will produce overwhelming evidence to the investment community in this “show me” market environment.”
Western Wind Energy Corp. (OTCQX: WNDEF) (TSXV: WND) trades in the United States on the OTCQX under the symbol “WNDEF” and on the Toronto Venture Exchange under “WND”. Western Wind is a vertically integrated renewable energy production company that currently owns 165 MW of rated solar power and wind farm capacity in production in the States of California and Arizona. Western Wind further owns substantial additional development assets for both solar and wind energy in California, Arizona, Ontario, Canada; and in the Commonwealth of Puerto Rico.
Western Wind is in the business of owning and operating wind and solar energy generating facilities. Management of Western Wind includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.