Canada-based developer Wind Works Power Corp. says it has submitted power contract applications for nine wind energy projects representing a total of 110 MW under Ontario's feed-in-tariff (FIT) program.
Wind Works Power is seeking to commence construction of a minimum of 20 MW of wind energy projects in Ontario by 2011.
‘With our recently announced financing, plus the proceeds from the flow-through funds that we are raising up until the end of the calendar year, we will have sufficient capital to continue development of our project portfolio, resulting in materially significant value being added to the company,’ says Dr. Ingo Stuckmann, CEO and director of Wind Works, in a statement.
According to the release, Wind Works owns the projects outright or has at least a 50% interest in them. The majority of the Ontario wind projects each have a nameplate capacity of 10 MW.
The FIT program is part of Ontario's Green Energy and Green Economy Act of 2009 and offers a power contract with a guaranteed rate of C$135/MWh over a 20-year term for qualified wind energy projects.
The Ontario Power Authority's initial launch period deadline for FIT applications was Nov. 30. The first launch period was designed for projects that were being developed under the renewable energy standard offer program and are, therefore, further advanced.
SOURCE: Wind Works Power
