GODERICH, Ontario, June 8, 2015 /PRNewswire/ -- Following 18
months of construction, the K2 Wind Power Facility ("K2 Wind") in
Ontario reached commercial
operation on May 29, 2015. One of
Canada's largest wind projects,
the 270 megawatt (MW) facility is owned and operated by Capital
Power Corporation (TSX: CPX) and Capital Power LP (collectively,
"Capital Power"), Samsung Renewable Energy Inc. ("Samsung"), and
Pattern Energy Group LP (collectively referred to as "the
partners"). Pattern Energy Group Inc. (NASDAQ: PEGI) (TSX: PEG)
("Pattern Energy") has agreed to acquire one third of the project
from its affiliate Pattern Energy Group LP.
With 270 MW of capacity, K2 Wind is equal in size to the largest
wind power facility in Ontario,
and is expected to generate clean energy for approximately 100,000
Ontario homes annually. Located in
the Township of Ashfield-Colborne-Wawanosh (ACW) in southwestern
Ontario, K2 Wind is comprised of
140 Siemens 2.3 MW wind turbines and operates under a 20-year PPA
with the Independent Electricity System Operator (IESO).
"Samsung is proud to complete our third wind project under our
Green Energy Investment Agreement with the government of
Ontario," said Steve Cho, Vice President, Samsung C&T. "K2
Wind created an average of 300 jobs during construction, with a
peak of 500 workers. Samsung and its partners are creating jobs and
investing in the community which are benefiting real people in ACW
and across the province."
"Along with Samsung and Capital Power, we are proud to develop
one of the largest wind facilities in Canada, which was built using local workers
and local materials, including turbine blades and towers
manufactured in Ontario," said
Mike Garland, CEO of Pattern Energy.
"K2 Wind is the result of Ontario's commitment to green energy,
providing the province with a strong new addition to its renewable
energy fleet."
"Thank you to the community, our partners and the people
involved in K2 Wind. Completing a project of this magnitude
requires a great deal of coordination and teamwork," said
Brian Vaasjo, President and CEO of
Capital Power. "The addition of K2 Wind adds another 90 MW of owned
wind capacity to our growing renewable energy portfolio."
In efforts to contribute to the community, the partners focused
on hiring locally. While in construction, K2 Wind was one of the
largest infrastructure projects in Ontario. During its 18-month construction
period, the project averaged over 300 workers on site. At peak
construction, more than 500 workers were employed by the
project.
Project components were manufactured in Ontario. The project's 700 turbine tower
sections were produced in Windsor
by CS Wind and the 420 blades were built in Tillsonburg by Siemens directly supporting
over 800 manufacturing jobs in Ontario. K2 Wind expects to
have approximately 20 full-time operations and maintenance
employees, along with an additional 10 seasonal positions.
K2 Wind has also created a Community Benefits Fund Agreement
with the Township of ACW to deliver approximately $15 million in funding for community initiatives
over the next 20 years and to support local residents living near
the facility through lease agreements and other benefits.
About Samsung Renewable Energy Inc.
Samsung Renewable
Energy is creating clean, renewable energy for generations to come.
Together with our partners, Samsung is making a $5-billion investment in Ontario to create the world's largest cluster
of wind and solar power. Our investments will create 900 direct
renewable energy manufacturing jobs and 9,000 high-skilled jobs in
Ontario. Built on Samsung
C&T's commercial and technical expertise and the success of its
renewable energy projects in several countries – including
the United States and Europe – Samsung is creating real jobs,
through real investment, benefitting real people. For more
information, please visit www.samsungrenewableenergy.ca.
About Capital Power
Capital Power (TSX: CPX) is a
growth-oriented North American power producer headquartered in
Edmonton, Alberta. The company
develops, acquires, operates and optimizes power generation from a
variety of energy sources. Capital Power owns more than 3,200
megawatts of power generation capacity at 17 facilities across
North America and owns 371
megawatts of capacity through a power purchase agreement. An
additional 545 megawatts of owned generation capacity is under
construction or in advanced development in Alberta and North
Carolina.
About Pattern Energy
Pattern Energy Group Inc.
(Pattern Energy) is an independent power company listed on the
NASDAQ ("PEGI") and Toronto Stock Exchange ("PEG"). Pattern Energy
has a portfolio of 16 wind power facilities, including one it has
agreed to acquire, with a total owned interest of 2,112 MW, in
the United States, Canada and Chile that use proven, best-in-class
technology. Pattern Energy's wind power facilities generate stable
long-term cash flows in attractive markets and provide a solid
foundation for the continued growth of the business. For more
information, visit www.patternenergy.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of Canadian securities laws,
including statements regarding the number of Ontario homes for which the K2 Wind facility
is expected to generate clean energy, the number of full-time
operations and maintenance employees at the facility, the number of
seasonal positions at the facility, and the amount of funding for
community initiatives over the next 20 years. These
forward-looking statements represent the partners' expectations or
beliefs concerning future events, and it is possible that the
results described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of the partners' control,
which could cause actual results to differ materially from the
results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as required by law, the partners do
not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. New factors emerge from time to time,
and it is not possible for the partners to predict all such
factors. When considering these forward-looking statements, you
should keep in mind the risk factors and other cautionary
statements in any of the partners' public annual report on Form
10-K or other form and any quarterly reports on Form 10-Q or other
form . The risk factors and other factors noted therein could cause
actual events or the partners' actual results to differ materially
from those contained in any forward-looking statement.
Media contacts:
Tim Smitheman, Samsung Renewable
Energy
416-817-9362
t.smitheman@samsung.com
Matt Dallas, Pattern Energy
917-363-1333
matt.dallas@patternenergy.com
Michael Sheehan, Capital
Power
780-392-5222
msheehan@capitalpower.com
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SOURCE Pattern Energy Group LP