in News Departments > FYI
print the content item

Gaz Metro says it has completed an equity offering, by way of private placement, of 5 million new units from its treasury at a price of $15.00 per unit to Gmi (which holds an economic interest of approximately 71% in Gas Metro) and Valener Inc, based on their respective share of units outstanding, for aggregate gross proceeds of $75 million.

The proceeds of the offering will be used to fund a portion of the development of Green Mountain Power Corp.'s Kingdom Community Wind project - a 63 MW wind farm being built in Vermont - and for general corporate purposes.

GMi financed its subscription of new units by way of issuance of common shares to Noverco Inc. for gross proceeds of approximately $53 million.



Trachte Inc._id1770
Latest Top Stories

Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.

Navigant_id1983
Renewable NRG_id1934
Canwea_id1984