in News Departments > New & Noteworthy
print the content item

Sprott Power Corp. says it has completed the acquisition of Canadian wind energy developer Shear Wind Inc., as well as entered an agreement with a new partner, Genera Avante Holdings Canada Inc., for the operation and development of Shear Wind's assets.

The acquisition adds the Glen Dhu Wind Farm - Nova Scotia's the largest wind project - to Sprott Power's portfolio, increasing the company's operating assets under management from 80 MW to 143 MW.

In addition, the arrangement brings a pipeline of development assets in Alberta, Saskatchewan, New Brunswick and Nova Scotia that are complementary to Sprott Power’s existing portfolio of development assets. The company says it also has partnered with Genera Avante, part of Spain-based Inveravante, for the operation and development of the various assets.

Sprott Power acquired all of the Class A voting common shares of Shear Wind for consideration of approximately C$0.23 per Shear Wind share, which comprises the base consideration of $0.22 and the Willow Ridge payment of $0.05.


Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Renewable NRG_id1934
Canwea_id1984