Western Wind is now in the position to file for its cash grant application with the US Treasury under Section 1603. The cash grant is a US Federal Government program to encourage renewable energy development through a 30% cash grant paid by the US Department of Energy and is part of the American Recovery and Reinvestment Act of 2009 ("Treasury Grant"). The Company estimates the cash grant submittal to be roughly $90 million, which is subject to review and approval from the Department of Treasury.
Jeff Ciachurski, President of Western Wind Energy states, "We are extremely pleased by the full commissioning of Windstar. Since January 27, 2012, we have now been receiving revenue from four fully owned renewable energy projects in California and Arizona. This is a transitional time for Western Wind, as we evolve into a significant power producer of renewable energy. We would like to thank our employees, stakeholders and business partners for the patience and cooperation in bringing online this transformational asset."
Western Wind Energy Corp. (OTCQX: WNDEF; TSX.V: WND) trades in the United States on the OTCQX under the symbol "WNDEF" and on the TSX Venture Exchange under the symbol "WND". Western Wind is a vertically integrated renewable energy production company that directly owns over 165.5 MW of rated solar 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.