Pattern Energy Closes Financing On Meikle Wind Project

Posted by NAW Staff on July 02, 2015 No Comments
Categories : Projects & Contracts

14384_thinkstockphotos-76945375 Pattern Energy Closes Financing On Meikle Wind Project Pattern Energy Group has completed a C$393 million financing package for the 180 MW Meikle Wind power project, located approximately 33 kilometers north of Tumbler Ridge in British Columbia.

Meikle Wind, which is expected to commence commercial operation in late 2016, is the largest wind power project in British Columbia with the capacity to generate clean energy for up to 54,000 homes in the province.

The Meikle Wind project is utilizing 61 GE wind turbines. The project has a 25-year power purchase agreement with BC Hydro. Further, the Meikle Wind project will employ approximately 275 workers on-site at the peak of construction activity and create up to nine permanent positions once operational, in addition to the use of local subcontractors.

The Meikle Wind project was thoughtfully designed and planned, incorporating input from First Nations, the Tumbler Ridge and Chetwynd communities, and the provincial government. The project area is a location that was significantly impacted by pine beetle kill and previous forestry activity. Meikle Wind received its environmental assessment certificate in June 2014.

Meikle Wind is one of the projects on the identified right of first offer list, on which Pattern Energy Group holds the right to purchase.

‘Once operational, Meikle Wind will increase the installed wind power capacity in British Columbia by 38%,’ says Mike Garland, CEO of Pattern Development. ‘This project was a successful collaboration with First Nations, the communities of Tumbler Ridge and Chetwynd, and BC Hydro. Meikle Wind will generate strong benefits for the province with an estimated $70 million in payments for property taxes, Crown lease payments, wind participation rent and community benefits over the first 25 years of operation. We now have wind power projects in operation or development in four provinces throughout Canada’

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