TORONTO, Dec. 13 /CNW/ - SkyPower Corp. ("SkyPower"), a company
affiliated with Lehman Brothers, announced today that it signed a 20-year
power purchase agreement with Newfoundland and Labrador Hydro ("Hydro") to
build, operate and sell power from a 27 MW Wind Project to be located in
Newfoundland and Labrador.
The project is located near the town of Fermeuse, will comprise nine
3.0 MW wind turbines and is expected to be in operation by the end of 2008.
"The Government of Newfoundland and Labrador has developed one of the
most progressive energy policies in the country and their support for the
development of wind power is exemplary," said Kerry Adler, CEO of SkyPower.
"The Town of Fermeuse is located in one of the highest wind sites in the
country and I am pleased to have the opportunity to work with Hydro to harness
the wind and build a major renewable energy project for this region."
"I am excited to see the wind farm proceed towards its plan for
construction next year and with the benefits it will bring to the area. We are
thrilled that SkyPower has chosen to develop its project here in Fermeuse and
we welcome the project," said Fermeuse Mayor Patricia Coady.
SkyPower Corp. (www.skypower.com), a company affiliated with Lehman
Brothers, is Canada's leading independent renewable energy developer with
interests in over 70 wind and solar projects at various stages of development
across 12 provinces/states, representing more than 7,000 MW of potential
capacity. SkyPower also has over 1,000 MW of wind energy under development in
India. SkyPower's strategy involves bringing a portfolio of renewable energy
projects from exploration phase through to construction and commercial
operation and is focused on being the largest owner and operator of renewable
energy parks across Canada. In June 2007, SkyPower became affiliated with
Lehman Brothers, the global investment bank.
For further information:
For further information: SkyPower Corp., Cory Basil, (416) 979-4625