Nova Scotia-based energy company Emera Inc. has concluded its purchase of the proposed 30 MW Digby Wind Park in Digby County. The purchase agreement involves 100% of the project, including development rights and 20 GE wind turbines.
The Digby Wind Park was being developed jointly by Interwind Corp. (formerly SkyPower Corp.) and Scotian WindFields Inc. Interwind Corp, which is under creditor protection, began the process to sell its portion of the Digby project in August 2009.
Emera finalized the purchase of those interests with Scotian WindFields – including a development agreement – on Feb. 1. Scotian has been leading local community consultations and will continue to support the project as it is developed.
The Digby wind project includes a 20-year power purchase agreement with Nova Scotia Power Inc. (NS Power). Emera is facilitating the development of the Digby Wind Park consistent with NS Power's obligation to meet the province of Nova Scotia's renewable portfolio standards and in compliance with the province's regulatory regime.
The project is expected to be completed in December and the transaction has been financed with existing credit facilities.
SOURCE: Emera Inc.