|
Micro-Cap Signs Option to Acquire 100% Interest in 50MW Wind Energy Project in Hungary
By: AllPennyStocks.com News
November 12, 2009
The battle to find new, alternative means of powering our world continues as 2009 winds down. Perhaps the word “winds” is an unintended pun, for wind power is making its presence felt, and not just in North America, but worldwide.
It's become cliché to say that North Americans are addicted to oil. The result, though, has been the explosion of interest in renewable energy sources. Last year, investors poured a record $71 billion into the alternative energy space. And billions more funnel in every day.
The latest company to raise its voice above the noise – and possibly to benefit financially -- is Ottawa-based Wind Works Power Corporation (OTCBB:WWPW), which, in mid-November, announced a new contract with a Hungarian concern. WWPW said it was to pay $500,000 Canadian for Ecsed, a 50-megawatt wind energy project located in the central European nation. Payment for its interest in the project would come in two stages – the initial 25% in January, the remainder in March. A similar pact was signed the same week with a concern in Belgium, the purchase price around the $425,000 mark.
Wind Works CEO Ingo Stuckmann announced that his company would ultimately pay $2 million in development costs over the next three years for the European projects, with an eye to creating an investment opportunity worth over $150 million.
WWPW is a company that dreams big, aiming at becoming a major force in the field of wind power, a field that is only growing. The advantages are that wind is clean, generating absolutely no greenhouse gases, is renewable, and involves no production decline curve. It also can't be hoarded by power hungry cartels. In fact, enough of it exists to satisfy global demand seven times over, according to a Stanford University study.
The wind power industry quintupled in size. Last year, global wind investments surmounted $36 billion U.S. -- American investment accounting for about a quarter of that. The wind industry is expected to quadruple yet again over the next 10 years.
Just in Canada, where Wind Works is located, there were only 684 megawatts in operation as recently as four years ago. As of last December, that figured had increased to 1,770 MW, plus 2,000 MW under construction in Quebec, 1,500 MW in Ontario, and 170 MW in British Columbia. The potential is huge.
Best of all, despite the momentum buildup from the twin projects in Europe, this stock is still a bargain. WWPW’s price dipped to a dime shortly before 2008 ended, peaking in the third week of October at $1.30. Even so, the price was no more than a dollar on the date of the Hungarian announcement. It may be said that, with the growing wind power, prosperity may be, well, in the wind.
Copyright © 2009 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
|
