|By Marketwired .||
|December 4, 2013 05:21 PM EST||
HALIFAX, NS -- (Marketwired) -- 12/04/13 -- Firelight Infrastructure Partners has purchased juwi Wind Canada Ltd.'s stake in the four megawatt (MW) Truro Heights Community Wind Project. The project, which is being developed under Nova Scotia's Community Feed in Tariff Program (COMFIT), is co-located with the six megawatt Millbrook Community Wind Project, and is part of a larger portfolio of projects developed by juwi targeting construction in 2014. juwi will remain an integral part of the project as an experienced industry partner offering development, financing, and construction management expertise. juwi will also remain on as the project's asset manager.
juwi Wind Canada President Michael Rucker stated, "juwi has worked hard to make sure that the Truro Heights project provides economic opportunities as well as training and employment opportunities for our community partner, Eskasoni First Nation. We welcome Firelight Infrastructure Partners commitment to deliver in both the economic and social aspects of this great opportunity."
Firelight Infrastructure Partners joins Eskasoni First Nation, as co-equity owner in the project. Over the past two years juwi has worked closely with the Eskasoni Corporate Division to develop the project and ancillary opportunities for Eskasoni band members. Eskasoni First Nation Chief Leroy Denny stated, "We are excited to see this project take its next step to provide jobs, reduce greenhouse gases, and generate additional investment in our community congruent with our proud history."
Firelight Infrastructure Partner's Vice President Mike Kosiancic said of the transaction, "The addition of the Truro Heights Project is an exciting and natural expansion of our investment in Nova Scotia renewables. We understand that for Eskasoni, this project is about more than just the direct return on investment. We are committed to helping juwi and Eskasoni follow through on creating employment, knowledge sharing, and training opportunities through this project and the rest of the juwi COMFIT portfolio."
With the closing of the equity, the project has ordered V-100 turbines from Vestas, bringing additional community investment, jobs and training while reducing the province's dependence on traditional energy generation. "We welcome juwi Wind as a new North American customer for Vestas and we are confident they will achieve great return on its investment with the V100-2.0 MW," said Chris Brown, President of Vestas' sales and service division in Canada and the United States.
About juwi Wind Canada Ltd
juwi Wind Canada Ltd is a subsidiary of the juwi Group, a major international developer of renewable energy projects. juwi Group has been designing, building and operating plants that harness renewable energy since 1996, and to date juwi Group has installed approximately 700 wind turbines worldwide at 100 sites, producing a total output of approximately 1400MW. juwi's North American wind operations are based in Boulder, Colorado.
About Firelight Infrastructure Partners
Firelight Infrastructure Partners is a Canadian partnership that invests in North American renewable energy projects including wind, hydro and solar. Firelight partners with experienced developers to provide the capital necessary to develop, construct and operate high quality renewable energy projects. With $335 million of committed capital, Firelight matches its financial strength and industry knowledge with the technical expertise of its partners. Firelight's wind investments include the RMSenergy Dalhousie Mountain Project and Amherst Wind Project.