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.
