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

Toronto-based Schneider Power Inc. (SPI) has completed its previously announced transaction and signed a definitive framework and limited partnership agreement with Energy Farming Invest Inc. (EFI), a subsidiary of German wind project developer Energy Farming International AG.

Pursuant to the framework agreement, EFI has agreed to provide the project equity and debt financing for the construction of the 10 MW Arthur Wind Farm in Ontario and conditionally agreed to provide the project equity financing for the construction and commission of three additional Ontario wind projects with a combined nameplate capacity of 26.5 MW. EFI's obligations to provide funding for these three projects is conditional on SPI's acquiring final building permits and is subject to certain termination rights that EFI holds until Sept. 30.

Under the terms of the definitive agreements, SPI will retain a 20% interest in each project and receive a development fee of up to C$2.3 million (C$1.4 million guaranteed). The company will also be involved in the construction process and will be compensated for construction and operations management for each project.

SOURCE: Schneider Power Inc.

IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015