Sprott Power Corp. has completed the previously announced purchase of 100% of the shares of Sky Generation Inc. (Sky Gen) and transferred the ownership of Sky Gen to a wholly owned subsidiary of Sprott Power.
Sky Gen operates three wind energy projects in Ontario comprising a total of 13 turbines and an installed capacity of 21.6 MW. The projects operate under long-term power purchase agreements (PPA) with the Ontario Power Authority and Bullfrog Power Inc.
In addition, Sprott Power has executed an asset purchase agreement to acquire substantially all of the assets of the Amherst Wind Power LP, including the 30 MW PPA with Nova Scotia Power Inc.
Sprott Power expects to close the Amherst acquisition within 60 days, subject to satisfaction of all remaining conditions to closing, including receipt of required consents and approvals. Sprott Power expects to complete the construction of the Amherst wind farm within 12 months of closing the acquisition.
SOURCE: Sprott Power Corp.