DONG Energy and NaiKun Wind Energy Group have signed a Letter of Intent (LOI) which gives DONG Energy the exclusive rights to negotiate a joint development agreement for the Haida Energy Field Offshore Wind Project in British Columbia and explore the potential for establishing a long-term partnership with Naikun Wind Energy Group
Energy Finance & Investment News in Canada
BC Hydro has announced it plans to purchase the remaining two-third ownership interest in the Waneta Dam and Generating Station in Trail, B.C. from Teck Resources Limited (Teck) for CAD1.2 billion (US$945 million). The purchase is forecast to have a beneficial financial impact each year, helping to keep rates affordable for BC Hydro’s customers.
Boralex has announced that Caisse de dépôt et placement du Québec has acquired all of the Class A common shares of Boralex held by Cascades representing 17.3% of the outstanding shares for the amount of CAD287.5 million (US$228.4 million).
The competitive process for the SaskPower's next 200 MW of utility-scale wind capacity is moving forward, with the Request for Proposal (RFP) phase of the competition.
Fengate Real Asset Investments has announced that the firm has reached financial close on its acquisition of a 75% limited partner interest and 50% general partner interest in a 40 MW operating wind farm in Southern Ontario.
InstarAGF Asset Management and AGF Management have announced the final closing of the InstarAGF Essential Infrastructure Fund with US$740 million in aggregate equity commitments from institutional and high net worth investors from Canada, Europe, the United Kingdom and United States.
Fortis Inc.and Teck Resources Limited have announced an agreement under which Fortis will purchase Teck’s two-thirds interest in the Waneta Dam and related transmission assets in British Columbia, Canada, for CAD1.2 billion cash (US$878 million).
First Infrastructure Capital Advisors, a subsidiary of Quanta Services, held a US$750 million first close on its debut fund, First Infrastructure Capital.
SNC-Lavalin Group Inc. has announced that it has reached an agreement with WS Atkins plc, approved by the boards of directors of both companies, on the terms of a cash acquisition by which SNC-Lavalin will acquire the entire issued and to be issued share capital of Atkins for £20.8 (US$22.3) per share in cash, representing an aggregate cash consideration of CAD3.6 billion (US$2.7 billion).
The Alberta Electric System Operator (AESO) has issued a Request for Expressions of Interest (REOI) to initiate the first competitive procurement process as part of the Renewable Electricity Program (REP).
Anbaric, a developer of clean energy transmission and microgrid projects, and Ontario Teachers' Pension Plan have announced a partnership to create a new development company, Anbaric Development Partners.
Pattern Energy Group LP has announced the completion of CAD263 million (US$195 million) construction-to-term financing for its 147 MW Mont Sainte-Marguerite Wind project, which is now entering full-stage construction.
Kineticor Resource Corp., in partnership with OPTrust, has closed the acquisition of a partially constructed 690 MW cogeneration plant located near Peace River, AB from Shell Canada.
Canadian Solar Inc. has announced that it has received US$20 million unsecured funding from the China and Portuguese-speaking Countries Cooperation and Development Fund (CPDFund) to support the development of eligible projects in Brazil, including the 191 MWp Pirapora I Project in the state of Minas Gerais.
Capital Power Corporation has announced that it has entered into an agreement to acquire the thermal power business of Veresen Inc., consisting of two gas-fired generation facilities and two waste heat assets.
Boralex Inc. has announced the closing of a CAD33.4 million (US$25.4 million) financing for the 10 MW Port Ryerse wind farm in Ontario, Canada.
IKEA Canada has signed agreements to acquire an 88MW wind farm located near Drumheller, Alberta approximately 130 km east of Calgary.
Canadian Solar Inc., has announced that it has completed the sale of shares of 3 utility-scale solar farm holding companies, SSM 1 Solar ULC, SSM 2 Solar ULC, and SSM 3 Solar ULC, totaling 59.8 MW AC to Fengate SSM Holdco LP, an affiliate of Fengate Real Asset Investments for over CAD257 Million (US$195.59 Million).
Harbour City Solutions consortium has been selected as the preferred proponent to design, build, finance, operate and maintain, a biosolids management project for the City of Hamilton, Ontario (Canada).
The Canadian Wind Energy Association (CanWEA) expects Canada to install approximately 700 MW of new wind energy capacity in 2017.