Western Wind Energy WND.V

Ticker WND.V (OTCQX - "WNDEF")
Current price is between $2.00 - $2.10 - high of $2.27 - resistance $2.20
Market Cap 125.7M
Shares Out. 60.1M
Revenue (FYR) $2.7M
EPS $0.03

Analyst coverage target prices

• Jacob Securities $3.50
• Cormark Securities $2.55
• Mackie Research Capital $2.80
• DAI Management Consultants (private valuation) $5.67
• Algonquin (AQN) $2.50 - failed unsolicited takeover bid

Shareholder Ownership

• 19% Goodman & Company, Investment Counsel Ltd
• 20% Insiders, families, and friends
• 56% of shares institutionally held
• 24% institutional retail
• 10,000+ retail share holders
• Dec. 23,24 announced "Substantial Issuer Bid (SIB)" Western Wind will offer to purchase for cancellation, up to 20M shares of its issued and outstanding common shares.

Why to buy?

Western Wind Energy is based in California and Arizona. The company currently have 3 producing renewable energy farms and 1 mega wind farm very near construction completion

Producing farms:

• Mesa 30MW (440acres) 430 out 460 turbines operational. Most turbine upgraded to 75kW. Submitted a 50MW repower and expansion plan.
• Wind Ridge 4.5MW (191acres) 24 out of 43 turbines operational. Will be upgraded congruently with the Mesa expansion
• Kingman I 10.5MW (810acres) wind and solar energy farm commercialized in September 2011.

End of the year completion:

• Windstar 120MW (1,850acres) split into 2 parts - 106MW energizes on Dec 11th 2011, testing completion Dec 31st 2011 - 14MW turbines erected by end of 2011 and operational a few weeks later (by Feb 2012)

California renewable energy policy - 20% by 2010 and 33% by 2020 while currenty the state is only at 15% and is importating 40% of its energy, meaning its behind schedule.

US Government renewable energy cash grant (paid within 60days after completion):

• ~9M for Kingman I 10.5MW project
• ~98M for Windstar 120MW project

Future Projects
Western Wind Energy have many other projects in line including:

• Yabucoa 30MW solar (late stage development)
• Kingman II 20MW
• Windswept 80MW
• Snowflake 196MW
• Reef City 40MW
• Howling Dog 15MW
• Red Lake 20MW
• Mesa Repower 50MW

The company's short term goal is to produce 717MW by 2015 (fiscal) which has a life of 30 years.


Website: http://www.westernwindenergy.com/s/Home.asp

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