EXHIBIT 99


                  New World Power Announces Agreements in Principle for
Formation of Joint Venture Development for Wind, Hydroelectric and
Alternative Energy Projects

                         Appointment of New Interim CEO

                  LIME ROCK,  Conn., Aug. 22 /PRNewswire/ -- The New World Power
Corporation (NWP) (Nasdaq-NNM:  NWPC) announced that it has executed a letter of
intent with Dominion Bridge Corporation (DBC), a Delaware company with executive
offices in Montreal,  Canada engaged in construction  and  engineering  services
world-wide (Nasdaq-NNM: DBCO), to form a joint venture limited liability company
to develop certain New World Power's wind,  hydroelectric and alternative energy
projects.

                  This joint  venture  will  provide  NWP with access to project
development  funding of up to $2.5 million and management  expertise in order to
further the progress of the Company's development projects in the United States,
Canada, Mexico, Central and South America, Ireland and China.

                  John D. Kuhns, New World Power's  Chairman,  stated that, "The
joint  development   company  with  Dominion  Bridge  will  provide  significant
corporate support and local market presence and resources to further New World's
wind, hydroelectric and alternative energy projects."

                  Nicholas Matossian, DBC President and COO commented that, "The
joint  venture is a corner  stone of DBC's  strategy to position  its  operating
subsidiaries  in North America and Pacific Rim in the renewable  energy  sector.
The system  integrator  approach  of NWP  reduces the  technology  risks,  while
providing  DBC  with  access  to  several  projects  in  varying  stages  of the
development."

                  NWP expects that the final joint venture  agreements  with DBC
will be concluded by September 30, 1996.

                  In  addition,  NWP  signed  an  interim  management  agreement
engaging the  services of DBC.  Specifically,  the  agreement  names Mr.  Vitold
Jordan,  president of Dominion  Bridge  Technology,  Inc. (DBT) as Interim Chief
Executive Officer of NWP. In addition, Mr. Gerard Prevost, Chairman of DB-CMC, a
composite materials development and  commercialization  joint venture company of
DBT, was nominated by the New World and DBC joint  venture as Managing  Partner.
Prior to joining DBC in 1995, Mr. Jordan was the Managing Partner,  Professional
Services with AT&T GIS in Canada and Mr.  Prevost,  prior to 1996, was President
and CEO with Nouveler, the technology investment subsidiary of Hydro Quebec.

                  New World Power  Corporation is an  international  producer of
electricity generated from wind energy, solar energy and hydropower. The Company
develops, integrates, manufactures,



markets  and  operates   electrical   gathering  systems  powered  by  renewable
resources.

SOURCE:           New World Power Corporation

                                                     8/22/96

CONTACT:  Fred A. Mayer,  Acting Chief Financial  Officer of The New World Power
Corporation, 860-435-4000, or Henry Hermann, 214-871- 9445.