Shear Wind Inc.
TSX VENTURE : SWX

Shear Wind Inc.

April 12, 2011 16:30 ET

Shear Wind Receives EcoENERGY Approval

HALIFAX, NOVA SCOTIA--(Marketwire - April 12, 2011) - Shear Wind Inc. ("Shear Wind") (TSX VENTURE:SWX) has commissioned 62.1 MW Glen Dhu Wind Energy LP (Glen Dhu) project on March 31, 2011, as per the requirements of the EcoENERGY Renewable Power program (Program).

The Contribution Agreement between Natural Resources Canada (NRCan) and Glen Dhu that was signed on July 22, 2010 provides for an incentive payment of one cent per kWh under the Program. The agreement extends until March 31, 2021 and provides for a maximum of $19,055,509 over the ten year term.

Mike Magnus, President and CEO stated, "By meeting all our targets for completion of the Glen Dhu project, we were able meet NRCan's expectations for the funding. We welcome the opportunity to participate in both our country's and province's goals to increase our reliance on renewable energy. Shear Wind looks forward to being a significant participant in future renewable programs in both Nova Scotia and other provinces."

Shear Wind has an aggressive development strategy to advance projects in other provinces and has developed a pipeline of projects which it is awaiting the opportunity to construct. In addition to a possible expansion of the Glen Dhu Wind Farm in Nova Scotia, Shear Wind is targeting three other near-term opportunities in New Brunswick, Saskatchewan and Alberta.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Shear Wind in any jurisdiction.

About Shear Wind

Founded in 2005, Shear Wind is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable wind energy properties in Canada. Shear Wind is focused on building a strong company based on a secure and sustainable supply of clean wind energy. Shear Wind is committed to building shareholder value governed by environmental stewardship. Inveravante Inversiones Universales, S.L., an international corporation based in Spain, indirectly owns 62% of Shear Wind on a fully-diluted basis and 49% of Glen Dhu Wind Energy Limited Partnership through Genera Avante Holdings Canada Inc., following its investment in Shear Wind in November 2009.

Additional information on the various projects may be viewed on Shear Wind's website: www.shearwind.com.

Forward-Looking Statements / Information

This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. Actual results may differ materially from information contained in the forward-looking information as a result of a number of material factors, including failure to secure adequate financing to develop projects of Shear Wind. Shear Wind undertakes no obligation to publicly update or revise any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.

Shear Wind Inc. trades on the TSX Venture Exchange under the symbol "SWX".

Neither 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

Contact Information