Western Wind Energy Corp. has executed a term sheet with Champlin/GEI Wind Holdings (CGEI Wind) to acquire the rights and title to a 4,000 MW wind energy development pipeline for $20 million. The pipeline includes near-term projects in Hawaii and Utah, and additional projects in California and throughout the U.S.
The acquisition is made payable by the issuance of 8 million common shares at $2.50 per share. The term sheet will be subject to regulatory and company approvals.
CGEI Wind is jointly owned by Good Energies and Champlin Windpower LLC.
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