Sprott Power Signs PPA For 24 MW Wind Project

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Sprott Power Corp., a developer, owner and operator of renewable energy projects, together with the Municipalite de Saint-Philemon and the MRC de Bellechasse, has signed of a 20-year power purchase agreement (PPA) with Hydro-Quebec Distribution (HQD) for the 24 MW Saint-Philemon wind farm in Quebec.

The agreement is part of HQD's previously issued call for tenders for the purchase of wind-generated electricity in the province in order to meet the long-term electricity needs of its Quebec customers through Aboriginal and community-based projects and is subject to the approval of the Regie de l'Energie.

Sprott Power, through its subsidiaries, will own 51% of the project and will manage the construction and operations of the facility. Municipalite de Saint-Philemon and the MRC de Bellechasse will own 49% of the project.

The wind farm will comprise eight wind turbines with a total installed capacity of 24 MW. As a condition of the PPA, more than 60% of the capital cost of the project will be incurred in Quebec.

It is anticipated that construction of the Saint-Philemon wind farm, which is subject to permitting and financing, will begin in 2013 and that commercial operations will begin in the fourth quarter of 2014.

SOURCE: Sprott Power Corp.

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