Business & Finance
Business and Finance
Business and Finance
Wed, April 11, 2012 
April 11, 2012 09:35 ET
Shear Wind Inc.: Environmental Approval on Alberta Site-100 MW
HALIFAX, NOVA SCOTIA--(Marketwire - April 11, 2012) - Shear Wind Inc. ("Shear Wind") (TSX VENTURE:SWX) announced that it has received Environmental Approval (the "Approval") from Alberta Sustainable Resource Development (ASRD) for the Willowridge Wind Power Project (the "Willowridge Project"), which is to be located south of Fort MacLeod, Alberta. The Willowridge Project is planned to be 100 Megawatts (MW).
Mr. Mike Magnus, Shear Wind's President and CEO stated, "We are very pleased to have received this approval in relation to the Willowridge Project, as it gives us the solid basis to move forward to build out the wind farm. The ASRD Approval takes us a major step further in our readiness and we are pleased with our progress."
Shear Wind has worked extensively on the Willowridge Project for over six years, having completed studies and evaluations indicating that the site could provide up to 400 Gigawatt hours (GWH) of renewable energy for the communities of Alberta.
The ASRD Approval took into account the environmental reports and studies done by Shear Wind for the Willowridge Project, the proposed turbine locations and the associated mitigation measures presented for the defined project. The Report stated: "ASRD-FWD has reviewed the proposal (including turbine locations) and is satisfied with the monitoring and mitigation of impacts to wildlife and their associated habitats, including Species at risk." Their approval included Shear Wind's proposed mitigation strategies, including associated infrastructure and construction plans, and post construction monitoring program.
Shear Wind is currently working on other projects in Nova Scotia, and are working towards submissions answering a call for renewable energy. The submissions will be for up to 80 MW of electrical generation on the Glen Dhu South site and 50 MW on the Canaan Mountain site. Approvals for the Request for Proposals are anticipated to be in the summer months. Adjacent to the proposed site of the Glen Dhu South Project, Shear Wind built and is operating the 62 MW Glen Dhu Wind Energy (North) facility which is presently the largest wind facility in Nova Scotia.
Shear Wind has projects in development in Nova Scotia, New Brunswick, Saskatchewan and Alberta. Magnus further stated, "We are really pleased to be able to advance projects concurrently in both provinces, and are looking forward to finalizing the development and construction in both provinces in 2013-2014."
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Shear Wind in any jurisdiction.
About Shear Wind
Founded in 2005, Shear Wind is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable wind energy properties in Canada. Shear Wind is focused on building a strong company based on a secure and sustainable supply of clean wind energy. Shear Wind is committed to building shareholder value governed by environmental stewardship. Inveravante Inversiones Universales, S.L., an international corporation based in Spain, indirectly owns 62% of Shear Wind on a fully-diluted basis and 49% of Glen Dhu Wind Energy Limited Partnership through Genera Avante Holdings Canada Inc., following its investment in Shear Wind in November 2009.
Additional information on the various projects may be viewed on Shear Wind's website: [ www.shearwind.com ].
Forward-Looking Statements / Information
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. Actual results may differ materially from information contained in the forward-looking information as a result of a number of material factors, including failure to secure adequate financing to develop projects of Shear Wind. Shear Wind undertakes no obligation to publicly update or revise any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Shear Wind Inc. trades on the TSX Venture Exchange under the symbol "SWX".
Neither 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.
