Wind Works Receives Financing Offers for Wind Park Burg I

6 December 2010 (Last Updated December 6th, 2010 18:30)

Wind Works Power has received offers for debt and equity components for its 4MW Wind Park Burg I project, which forms the first phase of a 10MW energy project in Germany. Ad vis Projekt has provided an offer for the initial debt portion of €6.9m ($9.21m) at 3.85% over 15 years with

Wind Works Power has received offers for debt and equity components for its 4MW Wind Park Burg I project, which forms the first phase of a 10MW energy project in Germany.

Ad vis Projekt has provided an offer for the initial debt portion of €6.9m ($9.21m) at 3.85% over 15 years with a 96% payout and a 4% upfront interest payment.

Wind Works has also received equity financing proposal for the remaining €3.1m ($4.14m), which may be finalised by the year end.

Construction of phase 1 for the €10m ($13.35m) project will begin in spring 2011 with the installation of two Enercon E82 wind turbines.