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.