|By Marketwired .||
|December 4, 2013 05:33 PM EST||
HALIFAX, NS -- (Marketwired) -- 12/04/13 -- Firelight Infrastructure Partners has purchased juwi Wind Canada Ltd.'s stake in the four megawatt (MW) Whynotts Community Wind Project. The project, which is being developed under Nova Scotia's Community Feed in Tariff Program (COMFIT), is located near Bridgewater, 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 Wind Services Canada has worked closely with the Nova Scotia Assembly of Mi'kmaq Chiefs to make the Whynotts Community Wind Project a part of our overall 2014 COMFIT portfolio. We are happy to remain on with the project under a series of development, construction and asset management services agreements. We are excited to see the benefits wind energy investment can bring to the community and welcome Firelight Infrastructure Partners commitment to deliver this great opportunity."
Firelight Infrastructure Partners joins Whynotts Mi'kmaq Wind Limited, as co-equity owner in the project. Whynotts Mi'kmaq Wind Limited is a subsidiary of an investment partnership managed by the Nova Scotia Assembly of Mi'kmaq Chiefs and owned by the thirteen Nova Scotia Mi'kmaq Bands. Over the past two years juwi has worked closely with The Mi'kmaq of Nova Scotia to develop the investment opportunity and ensure there are ancillary opportunities for Mi'kmaq capability building, job training, and employment opportunities.
Firelight Infrastructure Partner's Vice President Mike Kosiancic said of the transaction, "The addition of the Whynotts Project is a natural expansion of our investment in Nova Scotia renewables." He went on to say, "It is great to see Mi'kmaq involvement in renewable energy projects going beyond consultation. By directly investing in these projects The Mi'kmaq of Nova Scotia are generating direct and indirect economic benefits which are congruent with their proud tradition of environmental protection."
With the closing of the equity, the project has ordered V100-2.0 MW 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 $300 million of committed capital, Firelight matches its financial strength and industry knowledge with the technical expertise of its partners. Firelight investments include the RMSenergy Dalhousie Mountain Project and Amherst Wind Power.