in News Departments > Projects & Contracts
print the content item

Toronto-based Schneider Power Inc. has entered into a nonbinding memorandum of understanding (MOU) for an estimated C$22 million in project equity financing with Energy Farming Ontario LLC (EFI), a subsidiary of German wind project developer Energy Farming International AG, to construct and commission 36.5 MW of Ontario wind farms.

Under the terms of the deal, Schneider Power and EFI propose to establish a joint venture to construct, commission and operate the Providence Bay Expansion Project, the Arthur Wind Farm, the Innisfil Wind Farm and the Trout Creek Wind Farm. The EFI MOU anticipates that Schneider Power will transfer ownership of these projects to a joint-venture vehicle in exchange for a significant retained interest in the long-term cash flows of the projects and a cash fee.

Schneider will also provide ongoing operations and management services to the jointly owned company. EFI would acquire a majority equity interest in the joint venture by contributing sufficient capital to construct these projects. The total capital cost to realize the projects is expected to be C$86 million. The balance of the project costs will be met with debt financing.

SOURCE: Schneider Power Inc.


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015