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.


Trachte Inc._id1770
Latest Top Stories

Wind Energy Dominates New U.S. Power In October

Data from the Federal Energy Regulatory Commission shows that wind power accounted for over two-thirds of the country's new electricity generating capacity in last month.


Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?

Renewable NRG_id1934
Hybrid Energy Innovations 2015