US-based Pattern Energy Group, or Pattern Development, has entered a joint venture (JV) partnership with Nigig Power, a subsidiary of Henvey Inlet First Nation, for the development, ownership and operation of the 300MW Henvey Inlet wind project.
The new facility will be built in Parry Sound district, Ontario, Canada. It will utilise strong and steady winds blowing across the Georgian Bay and be the largest wind facility in the state, on completion.
Under the JV, Pattern Development will own 150MW of the project.
The Ontario Power Authority has already signed a 20-year power purchase agreement (PPA) for 100% of the project’s expected production.
Pattern development intends to arrange both construction and long-term debt financing for the project in 2016.
Pattern Energy president and CEO Mike Garland said: "This is the third addition to our list of ROFO projects in the past month, demonstrating the increasing success of our partnership with Pattern Development.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"This will be our eighth wind project in Canada and the largest on-reserve wind project to date, creating local jobs and providing a significant new source of revenue for the First Nation."
"With eight projects in the pipeline totalling 874MW, we have a clear path to growth beyond the next three years."