Ontario-based Wind Works Power Corp. has announced that debt financing equal to approximately $10 million has now been secured for its 50% owned, fully permitted 4 MW Wind Park Burg I project in Germany.
Wind Works previously secured the equity component necessary for construction by selling half of its interests in the project, which is the first phase of a two-phase, 10 MW wind energy project.
The 16-year debt financing is subject to pre-construction and construction milestones.
Construction is expected to begin this fall through Wind Works' wholly owned German subsidiary Wind Works Development GmbH, which will act as general contractor. The project will utilize two Enercon E82 turbines.