Additional large projects are in California and throughout the US with strong renewable portfolio standards and power purchase agreement pricing. Cost of the acquisition is US$20 million, payable by the issuance of eight million common shares at a deemed value of US$2.50 per share.
The term sheet will be subject to completion of due diligence, formal documentation, board approvals and approval of the TSX and the applicable securities regulatory agencies including applicable escrow provisions.
CGEI Wind is jointly owned by Good Energies and Champlin Windpower, LLC and is lead by Mike Cutbirth.
Mike was formerly head of Global Finance for Zond Corporation and Enron Wind and served 4 years as the first CEO of Clipper Windpower. Mike has 16 years of wind energy executive experience including, raising over $1 billion in financings for various wind projects. Mike would join the board of Western Wind if the transaction closes....
Western Wind inks term sheet to acquire 4GW project pipeline
No comments:
Post a Comment