Wind Works Power Corp. has signed a purchase and sale agreement with Premier Renewable Energy Ltd. (PRE) to sell five wind energy projects in Ontario totaling 50 MW. The closing of the sale is subject to certain conditions, including the approval of the Ontario Power Authority (OPA).
All five projects were awarded power contracts under the OPA feed-in tariff program in April 2010, when Wind Works was awarded power contracts totaling 80 MW.
Under terms of the agreement, PRE will assume all costs to develop, construct and operate the projects. Total investment is approximately C$150 million.
SOURCE: Wind Works Power Corp.