M-Wave, Inc. (M-Wave) has entered into a definitive agreement to acquire 160 acres of land for the construction of wind farm in Tehachapi, California. The company is also in discussions with the same land owner to acquire another 4,840 acres. As per the agreement, the company will acquire the land through the issuance of 1 million shares of restricted stock. The land has been located at the highest point of the ridge line in the area that results in a higher level of wind.
Tehachapi is located between Bakersfield, California and the Mohavi desert is recognized as a fertile area for the production of wind energy.
M-Wave also said that it is planning to change its name to Green St. Energy to reflect its new operations.
“We are excited to acquire a highly desirable area of land in the wind capital of California,” said Tony Cataldo, M-Wave’s chairman and chief executive officer. “Tehachapi is the ideal location to develop wind farms, due to the proximity of transmission lines, highly desirable topography and friendly regulatory environment. We believe this land acquisition represents the initial phase of building a world-class renewable energy company.”