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Wind Works Power's 3MW project begins commercial operation in Germany

CTBR Staff Writer Published 06 July 2016

Wind Works Power announced that its 3MW wind farm which has 1xEnercon E101 3MW wind turbine in Germany has begun commercial operations.

Wind Works had signed a turbine supply agreement and made a down-payment to Enercon. Wind Works has financed the project and constructed the project turnkey for investors with an approximate investment value of $6 Million. Wind Work's retains a majority stake ownership in the project.

The innovative project cannot only sell power under a 20 year fixed Feed-In Tariff since nearby businesses would allow for a direct powerline connection, potentially allowinWind Worg a direct sale of windpower.

It is of strategic interest for Wind Works to pursue this novel approach to potentially increase revenues. Given Germany`s current revisions of the electricity market laws, the exact terms are still to be determined.

Wind Works President and CEO Stuckmann said: "With over 30% renewables in the power market today, Germany is adapting its power market laws towards flexible market instruments? in order to avoid the costs of a capacity market?.

"This project is a start to fully use these new market opportunities early on, before we go to 45% cheap renewables in Germany by 2025, and, 100% by 2050, in compliance with the Paris COP21 world climate treaty.

Source: Company Press Release