(SeeNews) - Aug 21, 2013 - Canada-based Renewable Energy Developers Inc (TSE:RDZ), or RED, said Tuesday it had wrapped up the acquisition of 50 MW of wind projects in Canada from affiliates of Wind Works Power Corp (OTCQB:WWPW).<br /><br /> The buyer, which owns and operates renewable energy projects and was formerly known as Sprott Power Corp, has taken possession of four wind schemes, to be built in Canada's Ontario province. The acquisition price was not disclosed.<br /><br /> Last year RED and its financial partner offered secured loans for the four projects, while RED also took part in their development in the last 14 months. After completion, RED and its financial partner will each own a 50% stake in the wind farms. They will also share the construction expenses on the projects in 2014.<br /><br /> In July Capstone Infrastructure Corp (TSE:CSE) said it had agreed to acquire RED for CAD 70 million (USD 67.4m/EUR 50.2m), seeking to expand its power generation operations.<br /><br /> (CAD 1.0 = USD 0.962/EUR 0.717)
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