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Message: major wind turbine reservation agreement with Gamesa

major wind turbine reservation agreement with Gamesa

posted on Aug 25, 2009 06:23AM

 

 

Attention Business Editors

Western Wind Energy Corp executes major wind turbine reservation agreement with Gamesa

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Toronto Stock Exchange (Venture) Symbol: "WND"

Issued and Outstanding: 45,979,397

>>

VANCOUVER, Aug. 24 /CNW/ - Western Wind Energy Corp ("Western Wind") is

pleased to announce a major wind turbine reservation order with Gamesa for the

procurement of up to 120 MW of wind turbine generators. The Windstar Project,

located in Tehachapi California, will consist of Gamesa G80 2-MW, G87 2-MW and

G52 850-KW turbines. This flexible product mix is capable of harnessing the

uniquely varied wind regime of the Windstar site. Although the terms of the

deal are confidential, the order is valued at over $160 million.

The decision to select Gamesa was based on an extensive 12 month

evaluation of the various wind turbine manufacturers deemed bankable by major

lending institutions. Gamesa, having soundly satisfied the above criteria,

offers a robust technologically advanced product, comprehensive after-sale

maintenance, and a customer-first orientation. Western Wind has paid a deposit

and will pay the bulk of the proceeds from the previously announced Manulife

Financing subject to financial closing conditions satisfactory to Manulife.

About Gamesa

Beginning with the research and development of wind turbine technology,

Gamesa manufactures the critical components and assembles wind turbines in 32

production centers worldwide. Gamesa offers development, installation and

after-sale-service to clients across 20 countries. As one of the largest wind

turbine manufacturers in the world, Gamesa has installed more than 16,000 MW

of renewable energy from non-depleting sources. The annual equivalent of this

production exceeds 5.45 million tons of petroleum (TPE) per year and prevents

the emission of over 34 million tons of CO(2) per year. Gamesa's portfolio

includes more than 21,000 MW of wind assets in various stages of development

across Europe, Asia and the United States. Gamesa sales in 2008 were $5.51

billion with a net profit of $464 million.

About Western Wind Energy Corp.

Western Wind is a vertically integrated renewable energy electrical

production company that currently owns over 500 wind turbines with 34.5 MW of

rated capacity and a further 120MW of expansion power purchase agreements in

the State of California. Western Wind further owns additional development

assets for both Solar and Wind Energy in California, Arizona, Ontario, Canada

and a development team in the Commonwealth of Puerto Rico. Western Wind is in

the business of owning and acquiring land sites and technology for the

production of electricity from wind and solar energy. Management of Western

Wind Energy includes individuals involved in the operations and ownership of

utility scale wind energy facilities in California since 1981.

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ON BEHALF OF THE BOARD OF DIRECTORS

Jeffrey J. Ciachurski

Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as

that term is defined in the policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this release.

>>

Certain statements in this press release constitute "forward-looking

statements" under applicable securities laws, which involve known and unknown

risks, uncertainties and other factors that may cause actual results to be

materially different from any future results, performance or achievements

expressed or implied by such statements. Words such as "expects",

"anticipated", "intends", "projects", "plans", "will", "believes", "seeks",

"estimates", "should", "may", "could" and variations of such words and similar

expressions are intended to identify such forward-looking statements. Such

statements in this news release include, but are not limited to, the Company's

intended use of proceeds from the Offering. These statements are based on

management's current expectations and beliefs and actual events or results may

differ materially. There are many factors that could cause such actual events

or results expressed or implied by such forward-looking statements to differ

materially from any future results express or implied by such statements. Such

factors include, but are not limited to, the Company's ability to secure a

letter of credit on behalf of Southern California Edison, that the funds

raised are sufficient to advance its projects as anticipated, and the other

factors discussed in the Company's annual report and annual information

contained in the Company's 20F Annual Report filed with the United States

Securities and Exchange Commission and securities regulators in Canada.

Forward-looking statements are based on current expectations and the Company

assumes no obligation to update such information to reflect later events or

developments, except as required by law.

 

 

 

 

 

-30-

/For further information: WESTERN WIND ENERGY CORP., 1326 - 885 WEST

GEORGIA STREET, Telephone: (604) 685-WIND (9463), VANCOUVER, BC, V6C 3E8,

Facsimile: (604) 685-9441, www.westernwindenergy.com/

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