Western Wind Energy Corporation has announced that Pacific Hydro Limited of Australia is subscribing for a further 4,333,333 units of the company at a price of Can$ 1.50 per unit.

Each unit will comprise one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share, for a period of two years, at a price of Can$ 1.60 per share. Western Wind Energy and Pacific Hydro will also execute a formal and binding Alliance Agreement whereby Western Wind will contribute its assets, contracts and people into a joint venture relationship with Pacific Hydro for future wind farm developments. The joint venture equity will be split 51/49 in favour of Pacific Hydro with Pacific Hydro being the project manager on these projects. Western Wind will provide its expertise related to zoning, engineering and design supervision, property acquisition and PPA negotiation. Pacific Hydro will provide its development, engineering, financial and legal capabilities. The Alliance Agreement is being initiated with over Can$ 900 million in power sales agreements executed by Western Wind Energy. The underlying benefits of the Alliance Agreement are expected to be the development of over 500MW of wind power projects by the parties.