07 Jul '12, 3pm

Where's Western Wind Energy's Tax Grant?: Filed under: Energy News

On March 22, Western Wind Energy (TSX-V:WND, OTC:WNDEF ) applied for a $90,556,707 tax-free 1603 grant from the US Treasury on behalf of the completed 120MW Windstar project. The press release stated that the grant is subject to approval by the Treasury and payable within sixty days. The Windstar Wind Farm. Photo credit: Western Wind Energy It’s now more than three months later, and no tax grant. The stock is down 24% since May 22, when the grant was expected, but management remains confident they will get the grant. In the company’s May 30 quarterly earnings announcement , the company said, Our application has exceeded the 60 day program guidance review period and we continue to monitor our application status on a daily basis. We are not aware of any issues associated with our application and through our network of advisors we believe a majority of the applications are de...

Full article: http://www.altenergystocks.com/archives/2012/07/wheres_we...

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