FW: Wind power project in Canada sold to Innergex - Power Engineering

Sale price for a BC wind project still in permitting. Works out to be
approx. 10% of all-in costs, or $0.29/watt AC. Payments staged to milestone
achievement.



http://www.power-eng.com/articles/2012/07/wind-power-project-in-canada-sold-
to-innergex.html

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Sponsored by FLSmidth

Jul 26, 2012

Innergex Renewable Energy Inc., a Canadian independent renewable power
producer, on July 26 said it has entered into an agreement with Finavera
Wind Energy to acquire its Wildmare wind energy project in British Columbia,
Canada for approximately C$22 million ($21.8 million).
The price is subject to adjustments based on the realization of certain
events and milestones. Innergex said it expects the transaction to close by
the fall of 2012, subject to regulatory approvals and other closing
conditions.
The Wildmare project is expected to generate 77 MW, with all of the power
produced being sold to BC Hydro under a 25-year power purchase agreement.
The project, which is currently in the permitting phase, should reach
commercial operation in 2015, with construction lasting approximately 15
months. The total cost of the project, including the consideration paid to
acquire it, is estimated to be C$217 million ($215.3 million).
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