in News Departments > Projects & Contracts
print the content item

Toronto-based Plutonic Power Corp. has announced a deal that will raise C$70.35 million, which will be used for the company's share of the equity capital required for the Dokie Wind Project. Net proceeds will also be used for the Toba Montrose project transmission line.

Plutonic Power entered into an agreement with Cormark Securities Inc., on behalf of a syndicate of underwriters co-led by Cormark, GMP Securities LP and Macquarie Capital Markets Canada Ltd., for the purchase of 21 million common shares at a price of C$3.35 per share.

The company has granted the underwriters an over-allotment option to purchase an additional 3.1 million common shares at the offering price until the date that is 30 days following the closing of this offering.

This summer, Plutonic Power and GE Energy Financial Services formed a partnership in order to purchase the Dokie Ridge Wind Project from EarthFirst Canada. The 300 MW project is under construction in British Columbia.

SOURCE: Plutonic Power Corp.


Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965