Wind Works Power to Purchase Remaining 50% Stake in Germany’s Wind Park Burg Project

Wind Works Power Corp. has entered into an agreement for acquiring the remaining 50% stake in the Wind Park Burg Phase II wind energy project located in Germany. Currently, Wind Works Power has an option of acquiring 100% stake in this wind energy project.

The Phase I of this Wind Park Burg wind energy project has a 4-MW power generation capacity while the Phase II of this project has a 6-MW power generation capacity, thus totaling an overall power generation capacity of 10 MW. For both the phases of this project, 5 units of 2 MW wind turbines have been specified for operations. This project site is located in one of Germany’s best wind resources.

The overall investment value of this wind energy project has been estimated at €25 million. The wind energy market in Germany assumes extra significance since the German government’s recent historic decision towards changing the current mix of power supply from the present 16% from renewable energies to approximately 80% in 40 years time, thus highlighting Germany’s commitment in the field.