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Message: Western Wind to seek $200 million in senior secured project financing for 120 Mw

Western Wind to seek $200 million in senior secured project financing for 120 Mw

posted on Jul 08, 2009 06:44AM

Attention Business Editors

Western Wind to seek $200 million in senior secured project financing for the 120 megawatt Windstar Project, Tehachapi, CA


Toronto Stock Exchange (Venture) Symbol: "WND"

Issued and Outstanding: 45,940,507


VANCOUVER, July 8 /CNW/ - Western Wind Energy is pleased to announce that

it has engaged The Manufacturers Life Insurance Company ("Manulife") to

arrange up to $200 million in senior secured project financing ("Debt

Facility") to support the construction and operation of the 120 MW Windstar

Wind Energy Project located in Tehachapi, California. The term of the Debt

Facility would include the construction period plus 20 years and the interest

rate would be fixed at a market rate set upon closing. Financial Close will be

subject to usual and customary due diligence for a wind project as well as

lender approvals. Manulife will syndicate a portion to one or more

Institutional Investors to round out the debt facility. A more comprehensive

news release will be issued on closing.

About Western Wind Energy Corp.

Western Wind Energy Corp. is a wind energy electrical production company

that currently owns over 500 wind turbines with 34.5 MW of rated capacity and

a further 120 MW of expansion power purchase agreements in the State of

California. Western Wind Energy is in the business of acquiring land sites and

technology for the production of electricity from wind energy. Management of

Western Wind Energy includes individuals involved in the operations and

ownership of utility scale wind energy facilities in California since 1981.




Jeffrey J. Ciachurski

Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider

(as that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.


Certain statements in this press release constitute "forward-looking

statements" under applicable securities laws, which involve known and unknown

risks, uncertainties and other factors that may cause actual results to be

materially different from any future results, performance or achievements

expressed or implied by such statements. Words such as "expects",

"anticipates", "intends", "projects", "plans", "will", "believes", "seeks",

"estimates", "should", "may", "could", and variations of such words and

similar expressions are intended to identify such forward-looking statements.

Such statements in this news release include, but are not limited to, the

Company's intended use of proceeds from the Financing. These statements are

based on management's current expectations and beliefs and actual events or

results may differ materially. There are many factors that could cause such

actual events or results expressed or implied by such forward-looking

statements to differ materially from any future results expressed or implied

by such statements. Such factors include, but are not limited to, the

Company's ability to profitably utilize the lands as planned and the other

factors discussed in the Company's annual report and annual information

contained in the Company's 20F Annual Report filed with the United States

Securities and Exchange Commission and securities regulators in Canada.

Forward-looking statements are based on current expectations and the Company

assumes no obligation to update such information to reflect later events or

developments, except as required by law.



/For further information: Western Wind Energy Corp., 1326 - 885 West

Georgia Street, Vancouver, BC, V6C 3E8, Telephone: (604) 685-WIND (9463),

Facsimile: (604) 685-9441, www.westernwindenergy.com/

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