Shear Wind has sold its Alberta-based Glenridge Wind Project. The project, which was owned by Shear Wind's wholly owned subsidiary, Vindt Resources Inc., was sold to an arm's length party at a premium to the original project development cost incurred by Shear Wind and Vindt Resources in the project.
Shear Wind did not to release any further information concerning the terms of the sale at this time due to competitive land issues in the area and ongoing discussions with other major industry participants.
The sale proceeds will be used to pay down existing debt and to further develop Shear Wind's pipeline of Alberta wind projects, as previously disclosed.
SOURCE: Shear Wind