Schneider Power Secures Higher Rates For Three Ontario Wind Projects

Posted by NAW Staff on November 17, 2009 No Comments
Categories : Projects & Contracts

Toronto-based Schneider Power Inc. has secured an increase in the electricity rate payable for three existing power purchase agreements under the advanced renewable energy standard offer program.

The rate increase from C$110/MWh to C$121/MWh represents approximately C$13 million in incremental project revenue over the 20-year life of the contracts. The projects benefiting from this rate increase, all of which are to be constructed in 2010, include the following:

– The 10 MW Arthur Wind Farm, owned by Arthur Wind Farm Limited Partnership (a joint-venture with Energy Farming Invest Inc.) in which Schneider Power owns a 20% carried interest;

– The first phase of the Grand Valley Wind Farm – with an approved nameplate capacity of 9 MW – owned by Grand Valley 1 Limited Partnership (a joint-venture with Greta Energy Inc. and Lands End Corp.) in which Schneider Power owns a 6.6% carried interest; and

– The first phase of the Spring Bay Wind Farm, owned 100% by Schneider Power, located on Manitoulin Island, with an approved nameplate capacity of 6.5 MW.

SOURCE: Schneider Power Inc.

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