in News Departments > FYI
print the content item

The Clean Power Income Fund (CPIF), a trust that has invested in wind farms in both Canada and the U.S., has reached an agreement with the Department of Natural Resources regarding the fund's Erie Shores Wind Farm's eligibility to receive an increase in wind power production incentive (WPPI) payments of C$2 to C$10 per MWh. The WPPI payment is provided by the federal government in support of the development of renewable energy projects under Canada's new ecoEnergy renewable power program.

The payment is a component of the contingency value receipt (CVR) outlined in the take-over offer by Algonquin Power Income Fund. The Algonquin Power Income Fund represents the right by unit holders of CPIF to receive 80% of the balance (after deduction of all claims and costs) of both the US$7.593 million reserve fund established by CPIF for claims made in connection with the sale of Gas Recovery Systems LLC and C$3.436 million in the event the Erie Shores Wind Farm qualifies for an increase in WPPI payments of C$2/MWh. In respect to the WPPI payment component of the CVR, holders of the CVRs will receive a cash payment - after deductions - of approximately C$0.07 per unit, to be paid following receipt of the first payment of the increased WPPI from Natural Resources Canada.


Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


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.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965