Market Overview

Wind Works Delivers 4.8MW Keyfarm to Customer in Germany, Market Downturn

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Tickers: XOTC:WWPW, PINX:WWPW
Tags: Alternative Energy, Technology

SCHENECTADY, NEW YORK, UNITED STATES / TheNewswire / July 18th, 2017 - Wind Works Power Corp. (OTC:WWPW -News) is pleased to announce that it has completed it`s Keyfarm project consisting of 2xNordex N117. Wind Works will handover the keys to a municipal utility in Germany. Wind Works had previously sold the project turnkey to the utility. The project is located in Bavaria, and, due to an unexpected highway closure the project could only be delivered 7 months past schedule causing a loss to Wind Works.

On April 10th, Wind Works received a permit for it`s 16.5MW Wind farm ,,Wald" for 5 Vestas wind turbines. The project has been sold to a swiss fund. However, after over 25 years of successful feed-in tariffs for wind energy, the German government last year changed it to an auction system, with a mandatory 50% target reduction for new wind installations.

Wind Works participated with its Wald Wind Farm in the first auction, but did not win a power purchase agreement (PPA). Due to these unprecedented restrictions for wind energy (and solar) imposed by the German government, and, resulting low PPA prices in the auctions, Wind Works cannot foresee whether and when it will be able to win a PPA for it`s Wald project.

Because of this market downturn in Germany, Wind Works has decided to reduce its staff in Germany by 80%, and, is considering withdrawing from the market, despite a pipeline of about 150MW in development.

,,Chancellor Merkel criticizes Trump for withdrawing from the Paris climate treaty. But look what you are doing at home!" comments Ingo Stuckmann, CEO of Wind Works, ,,now that renewables are actually cheaper, the German Government caps them! It makes no sense at all." Therefore, Wind Works has decided to ,,focus on the huge US market with no restrictions for cheap renewables."

About Wind Works * Zero Emission People

Wind Works now operates 13 megawatts (MW) in Germany, in which it has an approx. 50% ownership stake. In addition, Wind Works is developing a pipeline of 150MW projects in Germany; and a project pipeline in the United States.

Wind Works is a certified Zero Emission Company. Our mission is to provide the opportunity for people to participate in the development of renewable wind energy projects. We believe in making sound, environmentally conscious investments that are good for our shareholders and our planet. To eliminate one person`s carbon footprint of 10 tons each year (for Germany), it only takes a modern windmill 1 day by producing approx. 20,000 kilowatt hours of zero emission energy.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the company's control, inability to successfully conclude negotiations currently in progress, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Copyright (c) 2017 TheNewswire - All rights reserved.

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