Schneider Power and Lands End complete acquisition of Grand Valley Wind Farms

Schneider Power Inc. has a renewable energy portfolio of over 1,000 MW in development. EarthFirst Canada Inc. has a total of over 2,500 MW of wind energy capacity currently in development. Image courtesy of Schneider Power Inc. and EarthFirst Canada Inc.

Canada’s Schneider Power Inc. and Lands End Corp. recently announced the completion of their acquisition of Ontario-based Grand Valley Wind Farms Inc. from EarthFirst Canada Inc.

Grand Valley Wind Farms currently holds three Ontario Renewable Energy Standard Offer Program contracts for a total of 22 megawatts (MW) of fully-permitted wind energy generation capacity. The company has another 28 MW of capacity anticipated to be developed under the new Ontario Feed-in Tariff Program. The Grand Valley project site is located 15 kilometers west of Orangeville, Ontario. Construction is scheduled to commence this year.

The joint venture acquisition of Grand Valley Wind Farms gives Schneider Power 66% ownership and Lands End will keep 34% interest. Lands End was the original developer of the wind project.

Schneider Power Inc. has a renewable energy portfolio of over 1,000 MW in development in North America and in Europe. The company’s global headquarters is in Toronto, Ontario, Canada with offices in New York and Denver. The company is listed on the TSX Venture Exchange as SNE. Stock was up 4.76% on June 4, settling at CA$ 0.110.

EarthFirst Canada Inc. is a Canadian wind energy developer with a total of over 2,500 MW of wind energy capacity currently in development. Its most advanced project other than Grand Valley is the Dokie I 144-MW wind project in British Columbia, which started construction last year.


-  Mike R. Lopez

Sources:

¹ http://www.schneiderpower.com
² http://earthfirstcanada.com