Western Wind extends corporate loans
Wednesday, Dec 19, 2012
VANCOUVER, Dec. 18, 2012 /PRNewswire/ - Western Wind Energy Corp. - (the "Company" or "Western Wind") (TSX Venture Exchange - "WND") (OTCQX - "WNDEF") is pleased to announce that it has been successful in extending $25 million in short term notes to various extended due dates up to and including April 2013. The extensions allow Western Wind to match the extended due dates of these loans with the expected receipt of the additional Windstar cash grant payment, the expected close of the Yabucoa financing and other expected cash inflows over this time period.
The short term loan extensions with all of our vendors and institutional lenders help the sale process by removing uncertainty regarding liquidity.
ABOUT WESTERN WIND ENERGY CORP.
Western Wind is a vertically integrated renewable energy production company that owns and operates wind and solar generation facilities with 165 net MW of rated capacity in production, in the States of California and Arizona. Western Wind further owns substantial development assets for both solar and wind energy in the U.S. The Company is headquartered in Vancouver, BC and has branch offices in Scottsdale, Arizona and Tehachapi, California. Western Wind trades on the TSX Venture Exchange under the symbol "WND", and in the United States on the OTCQX under the symbol "WNDEF".
The Company owns and operates three wind energy generation facilities in California, and one fully integrated combined wind and solar energy generation facility in Arizona. The three operating wind generation facilities in California are comprised of the 120MW Windstar, the 4.5MW Windridge facilities in Tehachapi, and the 30MW Mesa wind generation facility near Palm Springs. The facility in Arizona is the Company's 10.5MW Kingman integrated solar and wind facility. The Company is further developing wind and solar energy projects in California, Arizona, and Puerto Rico.
SOURCE Western Wind Energy