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.



Advertisement

Trachte_id2056
Latest Top Stories

Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


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.

Hybrid Energy Innovations 2015