Halkirk wind project gets capital boost

With plans to build Alberta’s largest wind-energy farm between Halkirk and Castor next summer, Greengate Power Corporation has welcomed another partner and finalized the first stage of its financing plan with a nearly $6 million injection to the project capital.

Capital Power Corporation recently entered a joint-venture agreement with Greengate to develop, construct and operate the Halkirk I Wind Project through its subsidiary Capital Power LP.

“Partnering with Capital Power validates Greengate’s transmission- focused development strategy,” said Dan Balaban, president and chief executive officer of Greengate.

Under the terms, each partner will own a 50-per-cent interest in the projects.

Greengate will lead development while Capital Power will manage construction and operation of the project.

Earlier, Greengate Power Corporation announced that as part of its plan to raise $10.8 million in private financing, it received an investment of $5.8 million from NGEN Partners and SAM Private Equity, two leading cleantech-sector investors.

“As we prepare to begin construction of Alberta’s largest wind energy project, Greengate is happy to strengthen our team and our balance sheet,” said Balaban.

“Greengate has put together a very impressive suite of wind-energy projects,” said Steven E. Parry, managing director of NGEN.

“NGEN is pleased to invest in the Greengate team as they move from development to construction.”

Those words were echoed by the other partner SAM Private Equity.

“Greengate represents a unique opportunity to invest in a large portfolio of high-quality renewable energy assets in Alberta which is a very attractive market,” said Rhea Hamilton, investment director for SAM.

Parry has already joined the Greengate board of directors and Hamilton is expected to follow suit with the expansion of the Greengate board membership soon.

Greengate plans to kick off the project with a barbecue later in spring and host a job fair for 100 to 200 construction jobs.

Estimated at $350 million, the project has already received $46 million from the federal government.

Greengate plans to construct the project in two phases, Halkirk I and Halkirk II.

Upon completion of the 150-megawatt project, there will be some 83 turbines over an area of 50 sections in the County of Paintearth between Halkirk and Castor.

Just Posted

Red Deer resident releases a set of inspiring new titles

Bev Burton excited to share her story via Create Your Calm Waters and Arise & Shine

National Impaired Driving Enforcement Day is May 18th

Alberta RCMP participates in Canada Road Safety Week during Victoria Day long weekend

‘Shop Stettler’ awareness campaign is underway

Promotional campaign runs through to June 8th

Unveil Studio’s new project, Dream, explores meaning and purpose

The episodic series, shot by Matt and Dan Kooman, consists of inspiring stories from around the world

Stettler’s own Dacia Gramlick performs June 8th at the Stettler Alliance Church

Gramlick heads to Salzburg, Austria in July for an exciting learning opportunity

UPDATE: B.C. pilot killed in Honduras plane crash

The crash happened in the Roatan Islands area, according to officials

Authorities warn out-of-control wildfire could cut northern Alberta town’s electricity

Alberta Transportation has closed Highway 35 south of High Level due to the fire

‘Rope-a-dope’: Environmentalists say Alberta war room threat won’t distract them

Those against Alberta Premier Jason Kenney aren’t worried about promise to fight critics of energy industry

Almost $13 million to be paid to Grande Prairie hospital subcontractors, others

No reasons for the Court of Queen’s Bench order were released

Canada’s parole officers say correctional system has reached breaking point

About half of Canada’s federal parole officers work inside penitentiaries and correctional institutions

Speed, alcohol considered factors in deadly Calgary crash: police

Two female passengers in the Corolla, aged 31 and 65, died at the scene

Montreal researchers create audible hockey puck for visually impaired players

Three years ago, Gilles Ouellet came up with the idea for a puck that makes a continuous sound

‘What’s your number?’: Advocates urge Canadians to check their blood pressure

May 17 is World Hypertension Day, marked to spread awareness on the risks of high blood pressure

National Impaired Driving Enforcement Day is May 18

Alberta RCMP participates in Canada Road Safety Week during Victoria Day long weekend

Most Read