The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Western Wind Energy Corp. files for US $90,556,707 tax-free cash grant

Friday, March 23, 2012

Western Wind Energy Corp. files for US $90,556,707 tax-free cash grant01:03 EDT Friday, March 23, 2012Toronto Stock Exchange (Venture) Symbol: "WND" OTCQX Symbol: "WNDEF"Issued and Outstanding: 62,582,641VANCOUVER, March 23, 2012 /CNW/ - Western Wind Energy Corp. - (Toronto Venture Exchange - "WND") (OTCQX - "WNDEF"), is pleased to announce that on March 22, 2012, Western Wind filed for its tax-free cash grant with the US Treasury under Section 1603. The amount filed for was US $90,556,707, on behalf of the completed, 120 MW Windstar Project.  The tax-free cash grant is a US Federal Government program to encourage renewable energy development through a 30% tax-free cash grant paid by the US Department of Energy and is part of the American Recovery and Reinvestment Act of 2009 ("Treasury Grant"). The tax-free cash grant is subject to approval by the US Treasury and by law, is payable within sixty (60) days.About Western Wind Energy Corp.Western Wind Energy Corp. (OTCQX: WNDEF; TSX.V: WND) trades in the United States on the OTCQX under the symbol "WNDEF" and on the TSX Venture Exchange under the symbol "WND". Western Wind is a vertically integrated renewable energy production company that directly owns over 165.5 MW of rated solar and wind capacity in production in the States of California and Arizona. Western Wind further owns substantial additional development assets for both solar and wind energy in California, Arizona, Ontario, Canada; and in the Commonwealth of Puerto Rico.Western Wind is in the business of owning and operating wind and solar energy generating facilities. Management of Western Wind includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.ON BEHALF OF THE BOARD OF DIRECTORS"SIGNED"Jeffrey J. CiachurskiPresident & Chief Executive OfficerNeither 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", "anticipates", "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.  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 expressed or implied by such statements.  Such factors include, but are not limited to, the state of the Company's business activities and various 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.For further information: Investor Relations Contact: Lawrence Casse Email: Telephone: (416) 992-7227