Western Wind Energy Corp. adviser, Loewen Ondaatje McCutcheon Ltd., of Toronto, Ont., has successfully placed the six million shares of Western Wind Energy, previously held by Pacific Hydro Pty. Ltd., of Australia, at $2.15 per share.

Western Wind Energy wishes to thank Priya Patil, LLB, managing director, investment banking of Loewen Ondaatje McCutcheon (LOM), and her team for the superb effort in finding new, long-term shareholders for Western Wind Energy. This great effort by LOM brings a diverse base of new shareholders and removes the perceived market overhang that was a limiting factor in the upward movement of Western Wind's share value.

Jeff Ciachurski, chief executive officer of Western Wind, states: "LOM's professionalism, strategic marketing efforts, and its focus and dedication to the renewable energy industry, has allowed Western Wind Energy's shareholders to now fully realize the value of the company's assets. We congratulate the entire team at LOM."

As reported in Stockwatch on March 18, 2008, Western Wind is currently engaged in advanced negotiations regarding the financing and building of over $350-million of capital investment in wind projects at the project level.

Unlike the financing of Canadian wind energy projects, none of these financing structures in the United States involve the sale of corporate equity. The sale of corporate equity is not required in U.S. project finance structures. All equity and potential debt facilities can be done at the project level, allowing the corporate parent, Western Wind Energy, to remain dilution free during this capital-intensive process.

The dynamics of the project economics call for a direct project cost of between $2.3-million and $2.5-million per megawatt, with a further project developer profit payable to Western Wind Energy for up to $1-million per megawatt, or up to $170-million of net present value potential profit, payable to Western Wind Energy.