WNEA News:

June 26 - Wind Energy America, Inc. Completes Asset Acquisition

Wind Energy America Inc. (OTCBB: WNEA) announced that it has completed its asset acquisition with Boreal Energy Inc., a Minnesota corporation. As a result of the completed transaction, WNEA is in a position to generate revenue from electrical energy sales.

Under an agreement with Boreal Energy, Inc., WNEA had the right to accept stock in Navitas Energy, Inc., a Gamesa subsidiary, or accept an equivalent value of assets. During a due diligence process, it was determined that acquiring revenue producing assets was in the best interest of WNEA.

The assets include: 160 acres of land in Lincoln County, Minnesota, where wind turbines will be operated; the Midwest Center for Wind Energy, (MCWE) a hotel, office, and maintenance facility located where existing WNEA wind projects operate and where an additional 300 megawatts will be built; two Gamesa G-52 wind turbines, ready to be commissioned, located at the MCWE site; two Gamesa G- 80 wind turbines, ready to be commissioned, located in Osceola County, Iowa; substation and transmission facilities in Minnesota and Iowa; and the Viking Wind Energy Project, located in Martin County, Minnesota with transmission service with a nameplate capacity of up to 100 megawatts. The Viking Wind Energy project is expected to be operational by 2010.

Darrel Kluge CEO of Wind Energy America stated “The wind turbines, with a combined nameplate capacity of 5.7 megawatts are expected to be operational within the next 60 days. The power will be sold under power purchase agreements already in place with Alliant Energy and Xcel Energy. The company retains the ownership of the Renewable Energy Credits or RECs on 4 megawatts. We are excited about the trends for these and look forward to seeing how the carbon offset market will affect future pricing.”

WNEA assets include interests and development rights in many projects in the upper Midwest, including certain wind turbine equipment, and other assets related to wind farms in Iowa, Minnesota, North Dakota, Wisconsin, and southern Ontario. As a wind farm developer, WNEA controls significant interests and rights to an extensive pipeline of wind energy projects under development. The WNEA pipeline now includes approximately 1,300 megawatts in initial and various phases of design or development, 400 of which are located southwestern Minnesota, in some of the most favorable wind regimes in North America for the generation of electricity from wind turbines.

With the rapid growth of wind power and the “greening of America”, and with the high cost of fossil fuels, wind energy is experiencing unprecedented growth. Popular support for cleaner power is driving huge investment capital into the industry. WNEA, with its new pipeline of projects, is expected to capture some of the unprecedented growth in the wind industry. Through acquisitions, development of its own projects, and ownership and operation of wind farms, WNEA will become a premier provider of wind power in the region.