Market News Publishing December 13, 2007 Thursday 10:56 PM PST
Wind Power Project in Fermeuse SkyPower Corp . (” SkyPower” ), a company affiliated with Lehman Brothers, announced that it signed a 20-year power purchase agreement with Newfoundland and Labrador Hydro (“Hydro”) to build, operate and sell power from a 27 MW Wind Project to be located in Newfoundland and Labrador. The project is located near the town of Fermeuse, will comprise nine 3.0 MW wind turbines and is expected to be in operation by the end of 2008.
“The Government of Newfoundland and Labrador has developed one of the most progressive energy policies in the country and their support for the development of wind power is exemplary,” said Kerry Adler, CEO of SkyPower. “The Town of Fermeuse is located in one of the highest wind sites in the country and I am pleased to have the opportunity to work with Hydro to harness the wind and build a major renewable energy project for this region.” “I am excited to see the wind farm proceed towards its plan for construction next year and with the benefits it will bring to the area. We are thrilled that SkyPower has chosen to develop its project here in Fermeuse and we welcome the project,” said Fermeuse Mayor Patricia Coady.
SkyPower Corp. ( www.skypower.com ), a company affiliated with Lehman Brothers, is Canada’s leading independent renewable energy developer with interests in over 70 wind and solar projects at various stages of development across 12 provinces/states, representing more than 7,000 MW of potential capacity. SkyPower also has over 1,000 MW of wind energy under development in India. SkyPower’s strategy involves bringing a portfolio of renewable energy projects from exploration phase through to construction and commercial operation and is focused on being the largest owner and operator of renewable energy parks across Canada. In June 2007, SkyPower became affiliated with Lehman Brothers, the global investment bank.