Sprott Power Corp. Announces the Installation of All the Turbines at its Amherst Wind Power Project
Feb 13, 2012, 07:00 ET
TORONTO, Feb. 13, 2012 /CNW/ - Sprott Power Corp. ("Sprott Power") (TSX:SPZ), a developer, owner and operator of renewable energy projects, in conjunction with its partner Firelight Infrastructure Partners L.P., are pleased to announce that the last of the 15 wind turbines was installed at the Amherst project site. The construction team will now focus on the completion of the transformer station and the commissioning of the turbines, which is anticipated to be completed in March. The Amherst project is a 31.5 Megawatt facility that will provide almost 100 GWh of renewable energy for Nova Scotia residents on an annual basis. This is enough power for 10,000 homes.
"We are on schedule to have some of the turbines generating power and revenue by the middle of March and all turbines commissioned by the end of March," said Don Bartlett, Chief Operating Officer of Sprott Power.
"Don and his team were instrumental in delivering this very important project on budget and ahead of schedule for our shareholders," added Jeff Jenner, President and CEO of Sprott Power. "Sprott Power's operational assets under management will increase from 46 MW to 77 MW with the completion of the Amherst project. Once the Amherst project is fully operational, Sprott Power's gross revenues and cash flows will nearly double."
About Sprott Power Corp.
Sprott Power is a publicly-traded (TSX:SPZ) Canadian-based company dedicated to the development, owning and operating of renewable energy projects. Through project development efforts, acquisitions, partnerships and joint ventures, Sprott Power provides its shareholders with income and growth from the renewable power generation sector of the energy industry.
About Firelight Infrastructure Partners L.P.
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. For more information on Firelight, visit www.firelightlp.com.
Certain information contained in this press release may constitute "forward-looking information" which reflect the current expectations of Sprott Power and Firelight. This information reflects Sprott Power's and Firelight's current beliefs with respect to future events and are based on information currently available to management. Forward-looking information involves significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information including, without limitation, the risks listed under the heading "Risk and Uncertainties" in Sprott Power's Management's Discussion and Analysis of Financial Results dated June 13, 2011. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information contained in this release. Although forward-looking information contained in this release is based upon what Sprott Power and Firelight believe to be reasonable assumptions, management cannot assure investors that actual results, performance or achievements will be consistent with this forward-looking information. The forward-looking information is made as of the date of this release and Sprott Power and Firelight do not assume any obligation to update or revise it to reflect new events or circumstances, except as required by law.
For further information:
Jeff Jenner, CA, CBV
President and Chief Executive Officer
Sprott Power Corp.
416-815-0700 ext. 264
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