Coquitlam, BC, Feb. 27, 2006 — Western Wind Energy announced Southern California Edison commenced making payments to Western Wind Energy for energy produced and sold by Western Wind Energy from the Windridge Generating Facility located in Tehachapi, California.
Title transfers for the property and assets were closed and Western Wind Energy is now the documented, legal owner of an additional 190 acres of fee simple land containing 43 Danish Windmatic turbines and a 30 year power purchase agreement with Southern California Edison expiring in 2014.
Western Wind Energy has supplied Southern California Edison with a request to re-power the Windridge Generating Facility by replacing and substantially increasing the production from the facility. The new re-powering program will begin immediately and Western Wind Energy hopes to have the re-powering completed by the end of 2006.
Upon completion of re-powering, Western Wind Energy will increase the discretionary cash flow by at least 10 times the current monthly proceeds and will procure the new turbines using cash equity. This will allow the revenues of the project to flow directly to Western Wind Energy and constitute a substantial revenue base.
During the past two years, Western Wind Energy has executed over $900 million of power sales agreements totaling 159.5 megawatts from the sale of wind energy electrical generation, to three separate utilities.