Canada's Wind Works Power Corp on Wednesday said it signed an option agreement to acquire Ecsed, a 50MW wind farm in Hungary, for a combined USD 500,000.
Wind Works Power will make an initial payment of USD 125,000 in January and pay a further USD 375,000 in March 2010.
Ecsed is Wind Works Power's second project in Europe. Earlier it signed an option to buy a 100pc stake in Honelles, a 10MW wind farm in Belgium. The company will spend more than USD 2m on development costs over the next three years to create an investment opportunity valued at more than USD 150m, it said.
