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.

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.

Canwea_id1984
Renewable NRG_id1934