Windlab Limited (ASX:WND) today announced that it has executed a binding term sheet with Flow Power for the sale of 50MWs of electricity output and associated Large Scale Generation Certificates from its proposed 104MW Lakeland Wind Farm project, for a period of up to 10 years.
Lakeland Wind Farm is a fully approved wind farm located 60 km South-west of Cooktown on the Cape York Peninsula, adjacent to the town of Lakeland.
CEO of Windlab Limited, Roger Price, said: “The signing of this term sheet with Flow Power is another important step in bringing Lakeland Wind Farm to financial close and construction. With the development approvals and a grid connection agreement already in hand, execution of this term sheet will allow us to work towards finalisation of the debt and equity arrangement for the project."
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