Cannon Power Group Will Spin Off Some Mexico Wind Development Activities

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Due to the substantially increased volume of activity of its Mexico projects, Cannon Power Group has decided to reorganize its growth in the country. As a result, the company says it will spin off a portion of its Mexico project rights in the states of Baja and Zacatecas to Cannon Power Group's chairman, Gerry Monkhouse.

Monkhouse will continue developing these projects, as well as projects in other locations in Mexico, under a newly formed and separate Mexico-based company, Mexico Power Group, which plans to sell power to Mexican off-takers. He will also remain chairman of Cannon Power Group.

Cannon Power Group will reserve the right to develop a portion of the Aubanel wind project located in Baja, Calif., and will concentrate on cross-border opportunities to sell power into the California and other U.S. markets from the project.

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