Shear Wind Inc. has entered into a new asset purchase agreement with UEG-Green Energy Solutions/Alberta Inc. to sell the assets associated with the Willow Ridge wind project in the Fort MacLeod area of Alberta.
Under the revised agreement, UEG will pay $7 million for land, rights and other assets associated with the project.
The deal is a revision of a Sept. 22 agreement for UEG to buy the assets from Vindt Resources Inc., a subsidiary of Shear Wind that ended in October.
The company anticipates the closing to occur no later than Jan. 12, 2012.
