Wind Works Power Corp. has signed an agreement to acquire a 50% interest in a 5 MW wind project located in Ontario. The project was awarded a feed-in-tariff contract by the Ontario Power Authority in April 2010.
Wind Works is required to fund project development costs of approximately C$1 million, which includes interconnection to the Hydro One Networks Inc. power grid. In addition, the company says it will be required to finance the project by securing the necessary debt financing for the project.
