The $9,324,382 in funds is tax-free and further bonus is that 50% of the amount is available for depreciation.
Jeff Ciachurski, President of Western Wind Energy states "We are extremely pleased about executing our growth strategy in The United States market 11 years ago. The vision and leadership is now verified by the actions of the United States Government, which clearly has a better fiscal climate for renewable energy than any country in North America. In addition to the cash grant, The United States offers a 30% Investment Tax Credit for solar facilities brought on line until 2016. Our application was made on October 31, 2011 and validates the quick turnaround in cash grant applications."
Western Wind Energy Corp. (OTCQX: WNDEF; TSX.V: 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.