Copenhagen Infrastructure II partners with Beothuk Energy for 180 MW offshore wind farm

On behalf of Copenhagen Infrastructure II, Copenhagen Infrastructure Partners has entered into a partnership with the Canadian-based developer Beothuk Energy to develop the 180 MW St Georges Bay Project off the coast of Newfoundland (Canada).

Beothuk Energy will continue to lead the development until a power purchase agreement has been obtained. After obtaining a power purchase agreement CIP will lead the project to Financial Close and through the construction phase in cooperation with Beothuk Energy.

Beothuk is proposing to construct a 180 MW demonstration wind farm in St. George’s Bay, western Newfoundland and Labrador. It will cover an area of 20 square nautical miles.

This farm will:

• have thirty, 6 MW turbines/towers mated to gravity based structures.
• have a capital cost of CAD400 million (US$304 million) (approx.).
• have a projected cost of power of less than CAD10 cents per kilowatt hour.
• have Class A wind conditions.
• be near major transmission line (Emera’s Maritime Link).
• be close to Beothuk’s proposed Corner Brook manufacturing facilities and Port Harmon service port creating synergies.

As we reported in July 2015, Beothuk Energy retained Jacob Securities Inc. (JSI) of Toronto to identify project financing for the project.