News update from Western Wind Energy

"Western Wind Takes Delivery of US $12 Million of Solar Panels and Secures US Cash Grant"

WND.V signed a Module Supply Agreement ("MSA") for 42MW DC (30MW AC) for its Yabucoa Project located in Puerto Rico which will be repaid by US $12M project finance proceeds led by Rabobank. The Solor panels will be received prior to the Dec.31,2011. This transaction allows for the 30% US Federal Tax Free Cash Grant ~US $45M and qualifies for an addition US $64M of Puerto Rican investment tax credits.

Jeff Ciachurski, President of Western Wind Energy states, "this is a monumental accomplishment to secure the cash grant before the expiry date and together with the Puerto Rican ITC, add another $109 million of direct cash benefit to the Western Wind shareholders. Together with the previous $100 million received and/or about to be received from Kingman and Windstar respectively, this brings the aggregate amount of cash grants, tax credits, and tax shield benefits totaling over a half a billion dollars. It will only be a matter of time before Bay Street analysts realize the full value of Western Wind Energy. This is another gold medal performance by the Western Wind team, to close off 2011. Western Wind Energy wishes all of its stakeholders a happy, healthy and prosperous 2012."


New release

Source: http://finance.yahoo.com/news/Western-Wind-Takes-Delivery-cnw-1181518378.html?x=0

Source: http://ca.finance.yahoo.com/news/Western-Wind-line-receive-US-capress-3610689671.html?x=0

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