OTTAWA, ONTARIO March 28, 2013 - Wind Works Power Corp. (OTC:WWPW - News)(WKN: A0RPM2) is pleased to announce that it has signed agreements to acquire a private German wind energy developer. The first payment has been made to the former owners, which repaid existing liabilities of the developer. Wind Works funded this first payment from the proceeds of the sale of Wind Park Burg II. The initial payment gives Wind Works a 24% equity stake, which will increase to 100%, subject to milestones and additional future payments through 2014.

Prior to the acquisition, Wind Works had already partnered with this developer on the Wind Park Burg and Wind Park Rock projects in Germany. In addition to these 2 projects, the developer also has a 100 megawatt pipeline in Germany, which includes 6 wind energy projects in development totaling 50 MW, all of which are expected to be permitted within the next 2 years; plus an additional 50 MW of ongoing green field development.

The developer has an office in Germany with a staff of 10 people, including its new CEO Ingo Stuckmann, who will also continue as CEO of Wind Works.

"We currently own a 49% equity interest in a 4.6MW producing wind farm in Germany, and with this acquisition we now have an equity stake in over 100 MW of projects, half of which can be built in the next 2 years, subject to permitting", comments Dr. Ingo Stuckmann, Wind Works' President and CEO. "Our objective over the next 3 years is to own and operate a minimum of 100 MW of wind farms in our 3 markets, Germany, the United States, and Canada."

Ontario Projects Update

Wind Works is continuing to work with Sprott Power in order to close the transaction that is subject to the signed Letter of Intent announced on October 29, 2012.

In the meantime, Wind Works has decided to discontinue the development of the Clean Breeze and Collie Hill projects in Ontario due to insufficient economics.

About Wind Works / Zero Emission People

Wind Works now operates 4.6 megawatts in Germany, in which it has a 49% ownership stake. In addition, Wind Works is developing 77 megawatts of near-term permitted projects in Germany; 70 megawatts of FIT contracted projects in Ontario; and 425 megawatts of projects in the United States.

Our mission is to provide the opportunity for people to participate in the development of renewable wind energy projects. We believe in making sound, environmentally conscious investments that are good for our shareholders and our planet. To eliminate one person`s carbon footprint of 10 tons each year (for Germany), it only takes a modern windmill 1 day by producing approx. 20,000 kilowatt hours of zero emission energy.

For more information, please visit: www.windworkspower.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the company's control, inability to successfully conclude negotiations currently in progress, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

For additional information, please contact:


Investor Relations

ir@windworkspower.com

Wind Works Power (CE) (USOTC:WWPW)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Wind Works Power (CE) Charts.
Wind Works Power (CE) (USOTC:WWPW)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Wind Works Power (CE) Charts.