Wind Energy America Completes Strategic Acquisition of Buffalo Ridge Wind Farm Assets
August 29, 2007
Wind Energy America Inc. (OTCBB:WNEA) is pleased to announce that it has completed a strategic acquisition of the developer’s stake in two wind farms in Lincoln County MN which contain 33 modern wind turbines having a total rated capacity of 23 megawatts. Known as Shaokatan Hills and Lakota Ridge, these wind farms are located on desirable high ground of Buffalo Ridge, a leading wind regime in the USA. This is the first of our planned wind power purchases, which when completed will provide us with a core holding of significant wind farm assets on Buffalo Ridge, well-known in the wind power industry for its high and consistent wind speeds.
Until 2009, we will receive only minimal revenues from these two wind farms. Based on the actual wind power generated at Shaokatan Hills and Lakota Ridge during the past few years, however, we project that from 2010 through 2018 we will receive total net revenues of at least $11 Million, after which we plan to repower these wind farms with new and larger wind turbines.