Western Wind Energy Corp. - Update on process with Brookfield

        Western Wind Energy Corp. - Update on process with Brookfield

PR Newswire

VANCOUVER, Jan. 14, 2013

TSX.V Symbol: "WND"
Issued and Outstanding: 69,820,125

VANCOUVER, Jan. 14, 2013 /PRNewswire/ - Western Wind Energy Corp. - (the
"Company" or "Western Wind") (TSX Venture Exchange - "WND") (OTCQX - "WNDEF")
wishes to announce an update to its efforts with both Brookfield Renewable
Energy Partners L.P. ("Brookfield") and Western Wind's sales process.

Western Wind is in the unique  position of being both a substantial  renewable 
energy producer and  a public company.  The vast majority  of the plus  55,000 
megawatts of installed  wind capacity in  North America are  owned by  private 
companies or subsidiaries of regulated  utilities. Under an optimum and  less 
complex private company sales process, assets similar to that of Western Wind,
take, from initiation to completion of sale, at least 9 - 12 months. In  fact, 
Brookfield's adjoining wind farm (to Windstar)  went through a two year  sales 
process before Brookfield purchased the  remaining 50% interest. Western  Wind 
has had the added delay of a three month proxy battle and has had to deal with
the "wet blanket" interference of an ongoing hostile bid from Brookfield.

Western Wind is in charge of running this expeditious sales process on  behalf 
of all the stakeholders and cannot give preferential treatment to an  insider. 
Brookfield's interest is in opposition to that of the rest of the shareholders
as it logically  seeks to  acquire the  remaining 84%  of the  Company at  the 
lowest possible price. The date of January 28^th, or any other date presented
by Brookfield, is only relative to Brookfield's self aligned interest and does
not serve to benefit an increased price offer.

With reference  to  comments  from  the CEO  of  Brookfield  Renewable  Energy 
Partners, specifically  Richard  Legault's commentary  describing  our  recent 
credit facility  of  $25  million  and the  400,000  share  purchase  warrants 
exercisable at  $2.50  per share  issued  as a  bonus  to the  lender,  it  is 
important to note that  this was negotiated prior  to the sales process.  More 
importantly, Mr.  Legault  should  have  provided  our  shareholders  in  the 
Brookfield press  release or  in its  offer circular  more details  about  the 
extensive prior dealings and negotiations between Brookfield and Western  Wind 
that led to a financing term sheet proposal in October 2011 from an  affiliate 
of Brookfield. In  that proposed term  sheet, Brookfield offered  to lend  $60 
million to Western  Wind in two  phases: a first  phase of $25  million and  a 
second phase of $35 million. In  addition to fees and interest exceeding  13%, 
Brookfield requested a bonus  of 15% of  the entire Company in  the form of  9 
million share purchase warrants  at a price indicative  of the share price  in 
October, 2011.

Western Wind rejected the  above Brookfield offer, even  after the request  by 
Brookfield was reduced to 6 million share purchase warrants.

Regarding Mr. Legault's comment  that "the Brookfield  offer was made  without 
due diligence", nothing could be further from the truth. Principally, in  the 
fall of 2011,  Western Wind  met with  representatives of  Brookfield and  its 
affiliates a number of times concerning  the business of Western Wind and  how 
the two companies might work  together. At which time, extensive  confidential 
material  non-public  information  about  Western  Wind  was  provided.  Those 
meetings lead to  the financing  proposal referred  to earlier  in this  press 
release. Western Wind  has requested  that the  Ontario Securities  Commission 
review the conduct of Brookfield  and consider whether Brookfield should  have 
provided a valuation opinion along with  its offer. It is Western Wind's  view 
that a valuation  opinion should  have been  provided in  connection with  the 
Brookfield offer.

Our strategy going forward is to  complete financial close on Yabucoa as  this 
event will  add  substantial  value  to the  shareholders  of  Western  Wind. 
Financial close by our lending group is  deemed to have removed all the  risks 
associated with the project and implies a substantial increase in value. This
facilitates not  only attracting  a much  better price  for the  company as  a 
whole, but  an even  greater price  by  the splitting  of assets  to  multiple 

Additionally, Western Wind's four operating  projects bring in enough  revenue 
every month  to substantially  reduce debt  and increase  shareholder  value. 
Western Wind will be sold  in an expeditious and sound  manner and time is  on 
the side of the Western Wind shareholder.

We strongly believe  in Mr. Legault's  objective of having  a Board  supported 
approval of an acceptable  Western Wind bid  and the door  is still wide  open 
between Brookfield and Western Wind.


Western  Wind  is  an  independent  vertically  integrated  renewable   energy 
production company that owns and operates wind and solar generation facilities
with 165 net MW of  rated capacity operating in  the States of California  and 
Arizona. Western Wind  further owns substantial  development assets for  both 
solar and wind energy in the  U.S. The Company is headquartered in  Vancouver, 
BC and has branch offices  in Scottsdale, Arizona and Tehachapi,  California. 
Western Wind trades on the TSX Venture Exchange under the symbol "WND", and in
the United States on the OTCQX under the symbol "WNDEF".

Western Wind  owns and  operates three  wind energy  generation facilities  in 
California, and one fully integrated combined wind and solar energy generation
facility in  Arizona.  The  three operating  wind  generation  facilities  in 
California are comprised of the 120MW  Windstar, the 4.5MW Windridge, both  in 
Tehachapi, and the  30MW Mesa  facility near  Palm Springs.  The facility  in 
Arizona is the Company's 10.5MW  Kingman integrated solar and wind  facility. 
The  Company  is  further  developing  wind  and  solar  energy  projects   in 
California, Arizona, and Puerto Rico.



Jeffrey J. Ciachurski
President & Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


This  news  release  contains  certain  statements  that  may  be   considered 
"forward-looking statements,  such  as  references to  the  intended  sale  of 
Western Wind and its  assets. Forward looking  statements are statements  that 
are not historical facts and are generally, but not always, identified by  the 
words "expects", "plans",  "anticipates", "believes", "intends",  "estimates", 
"projects", "potential" and similar expressions, or that events or  conditions 
"will",  "would",  "may",  "could"  or  "should"  occur.  The  forward-looking 
statements in this press release include  statements regarding the value of  a 
potential sale of the Company based  on expressions of interest received  from 
auction participants,  alternative sales  discussions with  third parties  and 
potential transactions resulting  from such  discussions. The  forward-looking 
statements included in this press release are based on reasonable assumptions,
including that the expressions of interest and discussions with third  parties 
may result in a higher potential sales price and that the Company will be able
to successfully negotiate and complete a sale with a third party. Factors that
may cause results to vary from anticipations include the risk that the Company
may not be able to successfully negotiate a sale on terms more favourable than
pursuant to the Offer and  even if it is able  to negotiate such a sale,  that 
may not  be  able  to  satisfy applicable  conditions,  including  receipt  of 
requisite approvals,  or  complete  the  transaction.  Although  Western  Wind 
believes the  expectations expressed  in  the forward-looking  statements  are 
based on reasonable assumptions, such statements are not guarantees of  future 
outcomes and  actual results  may differ  materially from  those contained  in 
forward looking  statements.  Forward  looking statements  are  based  on  the 
beliefs, estimates and opinions of Western  Wind's management on the date  the 
statements are made.  Western Wind  undertakes no obligation  to update  these 
forward-looking statements in the  event that management's beliefs,  estimates 
or opinions, or other factors, should change, except as required by law.

SOURCE Western Wind Energy


Investor Relations Contact:

Lawrence Casse

Tel: (416) 992-7227
Press spacebar to pause and continue. Press esc to stop.