Algonquin and Sask agree on 177 MW wind power project

Algonquin Power (APCo) (TSX: AQN) has announced a 25 year Power Purchase agreement with SaskPower for a 177 MW Wind Power Project.

The Chaplin Wind Project ("The Project") will be located in the Rural Municipality of Chaplin, Saskatchewan, 200 km west of Regina, Saskatchewan, Canada with construction completion targeted for December 2016.

The Project will be constructed at an estimated capital cost of $355m and consist of approximately 77 multi-megawatt wind turbines.

The Project enjoys an excellent wind resource, consistent with APCo's existing wind power projects in the province, and will satisfy the energy needs of approximately 70,000 homes.

The Project is expected to generate first full year EBITDA of $37.5m.

All energy will be sold under a 25 year power purchase agreement between SaskPower and APCo's wholly owned subsidiary Windlectric Inc.

The agreement features an annual commercial power purchase rate escalation of 0.6 per cent of the tariff in the preceding year. The Project was jointly originated in 2009 by APCo and Gaia Power Inc.

For more renewable power news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...