Wind Works Power Corp. says it has completed a 4 MW, $12 million wind energy project located in Germany.
The project, called Wind Park Burg I, was delivered to private investors on Sept. 18 and has officially commenced commercial operation.
In January, Wind Works announced the sale of Burg I for a turnkey sales price of $12 million, payable according to milestones. In addition, Wind Works will earn a 1% royalty on gross revenues of the wind farm, with the potential to increase the royalty to 2% based on actual performance targets, the company explains.
‘After building and delivering a turnkey transmission facility last month – including a 110 kV, high-voltage substation – we are pleased to have successfully completed the turnkey construction of our first wind farm in Germany," says Dr. Ingo Stuckmann, the company's president and CEO.