Facility generating approximately $15 million in funding for community initiatives
over the next 20 years
GODERICH, Ontario, Sept. 3, 2015 /PRNewswire/ -- The K2 Wind
Power Facility ("K2 Wind") in Ontario held a Grand Opening Event hosted by
Samsung Renewable Energy Inc. ("Samsung"), Capital Power
Corporation (TSX: CPX) and Pattern Energy Group Inc. (NASDAQ: PEGI)
(TSX: PEG) (Pattern Energy"). One of Canada's largest wind power facilities, the
270 megawatt (MW) K2 Wind facility is located in the Township of
Ashfield-Colborne-Wawanosh (ACW) in southwestern Ontario, and is expected to generate clean
energy for approximately 100,000 Ontario homes annually. The commissioning of
K2 Wind allowed Canada to surpass
10 gigawatts (GW) of installed wind energy capacity, making it the
seventh country in the world to reach this level of wind power
capacity, according to the Canadian Wind Energy Association.
"On behalf of the Council of the Township of
Ashfield-Colborne-Wawanosh I would like to congratulate everyone
who had a part in this long and complex project that created one of
Canada's largest wind-energy
facilities," said Deputy Reeve Roger Watt. "We would especially
like to thank K2 Wind for its commitment to the Community Benefit
Fund. This will enable the Township to undertake
infrastructure-improvement and community-development projects over
the next 20 years that we otherwise simply would not be able to
pursue."
"Samsung is proud to be part of the Ashfield-Colborne-Wawanosh
community and is excited to complete our third wind project in
Ontario," said Mr. Steve Cho, Vice President, Samsung C&T. "The
K2 Wind facility along with our other projects in the Province are
creating thousands of high-skilled jobs that will benefit real
people in this community and across Ontario."
"As one of the largest wind power facilities in Canada, K2 Wind is a significant addition to
our renewable energy capacity," said Darcy
Trufyn, Capital Power's Senior Vice President Operations,
Engineering and Construction. "Yesterday, we celebrated the grand
opening of K2 Wind, thanked the community for their support and
acknowledge all those who have worked with us on the project."
"This event is to thank the community, the landowners and the
local officials that worked to make this project possible," said
Mike Garland, CEO of Pattern Energy.
"Going forward, K2 Wind will return many benefits to the community
by providing ongoing funding for important community projects and
initiatives at the same time helping to reduce pollution for
Ontario and the globe."
"Congratulations to our partners on the completion of the K2
Wind farm. With locally produced steel, towers, and blades, K2 Wind
is another great example of the positive economic impact the wind
power industry has on the Province of Ontario and is a progressive step towards
environmental sustainability," said David
Hickey, Vice President, Wind Power & Renewables, Siemens
Canada Limited.
K2 Wind has 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. K2 Wind will also support local residents living near the
facility through lease agreements and other benefits.
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.
The facility's wind turbine components were manufactured in
Ontario. A total of 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 is comprised of 140 Siemens 2.3 MW wind turbines and
operates under a 20-year PPA with the Independent Electricity
System Operator (IESO).
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. is an
independent power company listed on The NASDAQ Global Select Market
and Toronto Stock Exchange. Pattern Energy has a portfolio of 16
wind power projects with a total owned interest of 2,282 MW in
the United States, Canada and Chile that use proven, best-in-class
technology. Pattern Energy's wind power projects 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 annually, the number of jobs
the K2 Wind facility and other projects in Ontario are creating, and the amount of
funding the Community Benefits Fund can deliver 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' annual report on Form 10-K, 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
Michael Sheehan, Capital
Power
780-392-5222
msheehan@capitalpower.com
Matt Dallas, Pattern
Energy
917-363-1333
matt.dallas@patternenergy.com
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SOURCE Pattern Energy Group Inc.