300 MW wind power project will have highest hub heights in
North America and create up to 500
construction jobs
SAN FRANCISCO, Dec. 26, 2017 /PRNewswire/ -- Pattern Energy
Group LP ("Pattern Development") today announced completion of a
C$1 billion financing for the 300
megawatt (MW) Henvey Inlet Wind project located on Henvey Inlet
First Nation Reserve No. 2 on the northeast shore of the Georgian
Bay in Ontario. Pattern
Development and Nigig Power Corporation, a wholly-owned subsidiary
of Henvey Inlet First Nation, are joint venture partners in the
project.
"This landmark project is a first on many fronts: largest wind
project in Ontario, largest
on-reserve wind installation in Canada, highest hub heights in North America, and the first to develop a
First Nation Environmental Stewardship Regime under the First
Nations Lands Management Act," said Mike
Garland, CEO of Pattern Development. "We are proud to be
partners with Henvey Inlet First Nation. Together we're excited to
kick off construction on this historic project that will harness
the strong and steady winds blowing across the Georgian Bay to
create hundreds of local jobs and provide a significant new source
of revenue for Henvey Inlet First Nation."
"This will be the first wind power project on First Nation land,
representing an economic turning point in which we are creating a
prosperous future," said Chief Wayne
McQuabbie of Henvey Inlet First Nation. "This project's
watershed permitting and real estate regime sets an example for
responsible economic development that protects and preserves First
Nation land while also generating revenue for future generations.
The project also benefits Magnetawan and Shawanaga First Nations with
income and employment opportunities."
"We aren't just building a wind farm, we're building an
economy," said Ken Noble, President
and CEO, Nigig Power Corporation. "The net proceeds over the
next two decades of operations will provide the financial resources
to transform the local economy, expand all community services,
relieve poverty, and create employment."
Henvey Inlet Wind will utilize 87 Vestas 3.45 MW turbines with a
136-meter rotor diameter and 132-meter hub height. The project has
a 20-year Power Purchase Agreement with the Independent Electricity
System Operator (IESO) for 100% of its production.
The project will create up to 500 jobs during construction. Once
operational the project will employ approximately 15 permanent
full-time workers and also create the need for more than 100
ongoing indirect jobs.
Once operational in the first half of 2019, Henvey Inlet Wind
will generate clean power for approximately 100,000 Ontario homes each year. It is expected to
generate lease royalties of more than C$8
million annually for the Henvey Inlet First Nation, in
addition to significant income from project distributions.
Henvey Inlet Wind is being jointly developed and will continue
to be jointly owned and operated by Pattern Development and Henvey
Inlet First Nation. Pattern Development owns a 50% interest in the
project, and Nigig Power Corporation owns the other 50% of the
project.
Affiliate company Pattern Energy Group Inc. (Nasdaq & TSX:
PEGI) ("Pattern Energy") has previously added the Henvey Inlet Wind
project to its list of identified Right of First Offer (iROFO)
projects.
About Pattern Development
Pattern Development is a
leader in developing renewable energy and transmission assets. With
a long history in wind energy, Pattern Development's
highly-experienced team has developed, financed and placed into
operation more than 4,500 MW of wind and solar power projects. A
strong commitment to promoting environmental stewardship drives the
company's dedication in working closely with communities to create
renewable energy projects. Pattern Development has offices in
San Francisco, San Diego, Houston, New
York, Toronto, Mexico City, Santiago, Chile, and Tokyo, Japan. For more information, visit
www.patterndev.com.
About Nigig Power Corporation
Nigig Power Corporation
is wholly owned by Henvey Inlet First Nation. Nigig was mandated in
2010 to develop the Henvey Inlet Wind project, which will provide
economic benefits that will positively impact our community and the
surrounding area. The net proceeds will be managed by a Community
Trust that will conduct extensive consultation to determine the use
of funds, a Membership Referendum.
About Henvey Inlet First Nation
Henvey Inlet First
Nation is an Anishinabek community comprised of three separate
reserve properties. Henvey Inlet Reserve No. 2 is on the northeast
shore of the Georgian Bay, 90km south of Sudbury and 71km north of Parry Sound. French River Reserve No.13 is
11km north of the Reserve No. 2 and includes Cantin Island. There are about 900 enrolled
Members of the Robinson-Huron Treaty band, with approximately 200
of those residing on-reserve.
Contact:
Matt Dallas
Pattern Development
917-363-1333
matt.dallas@patternenergy.com
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SOURCE Pattern Energy Group LP