SkyPower Wind Energy Fund LP Files Interim Results



    TORONTO, Nov. 29 /CNW/ - SkyPower Wind Energy Fund LP (the "Partnership")
announces it has filed with Canadian securities regulators its interim
consolidated financial statements and Management's Discussion and Analysis
("MD&A") for the three and nine month periods ended September 30, 2007. These
documents will be available at www.sedar.com and
www.skypowerwindenergyfund.com.

    
    Selected Financial Information and Results of Operations

    -------------------------------------------------------------------------
                          THREE MONTHS ENDED          NINE MONTHS ENDED
                             SEPTEMBER 30                SEPTEMBER 30
                              (UNAUDITED)                 (UNAUDITED)
    -------------------------------------------------------------------------
                              2007          2006          2007          2006
    -------------------------------------------------------------------------
    Interest Income    $   112,145   $   354,367   $   262,177   $   945,599
    -------------------------------------------------------------------------
    Net Loss before
     Income Taxes      $  (445,314)  $  (177,839)  $(1,221,948)  $  (383,220)
    -------------------------------------------------------------------------
    Future Income
     Tax Recovery      $         -   $         -   $   296,824   $   249,333
    -------------------------------------------------------------------------
    Net (Loss)
     Income            $  (445,314)  $  (177,839)  $  (925,124)  $  (133,887)
    -------------------------------------------------------------------------
    Net (Loss)
     Income Per Unit   $     (0.06)  $     (0.02)  $     (0.12)  $     (0.02)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                              SEPTEMBER 30, 2007           DECEMBER 31, 2006
                                      (UNAUDITED)
    -------------------------------------------------------------------------
    Total Assets                   $ 293,319,591               $ 103,654,000
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    For the three month periods ended September 30, 2007 and 2006, the
Partnership incurred net losses of $445,314 and $177,839, respectively, and
earned $112,145 and $354,367 in interest income on short-term investments. The
decrease in interest income of $242,222 is a result of lower cash and cash
equivalents balance as at September 30, 2007. In the three month period ended
September 30, 2007, expenses included management and directors' fees of
$183,218, administrative costs comprised primarily of professional fees which
include audit, tax and advisory services and legal fees of $86,259 and capital
taxes in Terrawinds of $287,982. In the three month comparative period ended
September 30, 2006, expenses included management and directors' fees of
$166,704, administrative costs of $310,718 and capital taxes of $54,784.
Capital tax has increased as a result of the increase in the assets of the
Partnership.
    For the nine month periods ended September 30, 2007 and 2006, the
Partnership incurred net losses of $925,124 and $133,887, respectively, and
earned $262,177 and $945,599 in interest income on short-term investments. The
decrease in interest income of $683,422 is a result of lower cash and cash
equivalents balance as at September 30, 2007. In the nine month period ended
September 30, 2007, expenses included management and directors' fees of
$515,458, administrative costs comprised primarily of professional fees which
include audit, tax and advisory services and legal fees of $382,638 and
capital taxes in Terrawinds of $586,029. In the nine month comparative period
ended September 30, 2006, expenses included management and directors' fees of
$497,382, administrative costs of $669,728 and capital taxes of $161,709.
Capital tax has increased as a result of the increase in the assets of the
Partnership. Also, the nine month period in 2007 and 2006 included a non-cash
future income tax recovery of $296,824 and $249,333, respectively, related to
changes in future federal and provincial income tax rates.

    Project Update

    The Partnership announced on November 27, 2007 that it had entered into a
definitive purchase agreement (the "Asset Purchase Agreement") to sell its
Terrawinds wind energy project near Rivière-du-Loup, Québec and related assets
to SkyPower Corp. for proceeds (net of the assumption of approximately
$211 million of indebtedness and certain other liabilities of Terrawinds by
SkyPower Corp.) of approximately $77.2 million in cash (the "Transaction"). A
meeting of Unitholders to consider the Transaction and related matters is
expected to be held on Friday, December 28, 2007. An Information Circular is
expected to be mailed to Unitholders in early December 2007 outlining the
Transaction and the Board of the Partnership's recommendation to Unitholders
to approve the Transaction. For additional details of the Transaction, please
review the press release issued by the Partnership on November 27, 2007
available at www.sedar.com and www.skypowerwindenergyfund.com.

    Certain statements included in this news release constitute
"Forward-Looking Statements" within the meaning of the Securities Act
(Ontario). Such forward-looking statements involve unknown risks,
uncertainties and other factors, including the risk that Information Circular
may not be mailed as contemplated and the risk that Transaction is not
completed. Certain other risks and uncertainties as well as additional
information are outlined in the Partnership's MD&A and in its 2006 Annual
Report and other continuous disclosure documents available on www.sedar.com.
Those risks may cause the actual results, performance or achievements of the
Partnership to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
    The forward-looking information contained in this news release represents
the expectations of the Partnership as at November 28, 2007 and, accordingly,
is subject to change after that date. However, the Partnership expressly
disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, except as required by applicable law.





For further information:

For further information: W. Judson Martin, Chairman of SkyPower 1 GP
Inc., General Partner of SkyPower Wind Energy Fund LP, at
judson_martin@hotmail.com

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