- Published: 03 March 2008 03 March 2008
Wind Energy America Inc. (WNEA) has announced that it has completed an acquisition of significant wind energy assets from Boreal Energy Inc., a Minnesota corporation, in a tax free exchange for WNEA common stock.
As a result of the completed transaction, WNEA will exchange 28,500,000 unregistered common shares for these Boreal assets. Boreal assets include property and development rights in many wind farm projects in the upper Midwest and Great Plains regions, including Iowa, Minnesota, North and South Dakota, Montana, Wisconsin, and southern Ontario. As a wind farm developer, Boreal holds significant interests and rights to an extensive pipeline of wind energy projects under design or development of approximately 1,200MW.