in News Departments > Projects & Contracts
print the content item

Schneider Power - a subsidiary of Quantum Fuel Systems Technologies Worldwide, a provider of natural gas storage systems, integration and vehicle system technologies - says it will sell its 10 MW Trout Creek wind farm to "an unrelated third party."

According to Quantum, the sale will occur in two phases. The first phase will result in the purchaser acquiring 74.9% of the ownership interests in the Trout Creek Project for an a purchase price of C$1.2 million, of which C$971,250 will be paid in cash upon closing and C$236,709 will be paid by the purchaser’s assumption of certain Trout Creek Project liabilities. Phase 1 is expected to close in approximately four to six weeks, subject to the parties’ satisfaction or waiver of customary closing conditions.

Phase 2 will result in the purchaser acquiring the remaining 25.1% of the ownership interest in the project for a purchase price of C$1.1 million. Phase 2 is expected to close within approximately 18 to 24 months, subject to the Trout Creek wind farm achieving commercial operation.

Trout Creek, located near Trout Creek, Ont., was awarded a feed-in tariff contract by the Ontario Power Authority in April 2010. The facility is expected to be commercially operational by October 2014.

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Renewable NRG_id1934
Canwea_id1984