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.


Trachte Inc._id1770
Latest Top Stories

Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.

Renewable NRG_id1934
Navigant_id1983