ABB_id2059
in News Departments > Projects & Contracts
print the content item

A community wind partnership led by Elemental Energy LLC, has closed C$30 million nonrecourse construction and term debt financing for the 11.2 MW Watts Wind II limited partnership portfolio of wind projects in Nova Scotia.

According to Elemental, the portfolio includes three wind projects located in the Nova Scotia communities of New Glasgow (6.4 MW), Barrington (3.2 MW) and Wedgeport (1.8 MW).

The 11.2 MW portfolio represents Phase 1 of a total of 35 MW of approved community wind projects. Construction started on the projects in summer 2014, with commercial operation expected in March 2015. The partnership includes Watts Wind Energy Inc. and Katalyst Wind Inc.

The projects have 20-year power purchase agreements with Nova Scotia Power Inc. under the community feed-in tariff program. Elemental Energy says it is providing sponsor equity to construct and operate the projects.

National Bank of Canada was the sole lender in the July 31 transaction.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.


Utilities Deal "Near-Fatal" Blow To Cape Wind: UPDATED

Despite its remarkable resiliency, could this latest setback mean the end for the controversial offshore wind farm?

Hybrid Energy Innovations 2015