InstarAGF Asset Management has reached financial close for the following two wind energy projects located in British Columbia (Canada): 15 MW Pennask and 15 MW Shinish Creek. InstarAGF had acquired the majority shares in the wind farms from Zero Emission Energy Developments (ZED).
BC Hydro and Power Authority, a Canadian electric utility in the province of British Columbia, will acquire the energy generate by the two projects under two 40-year power purchase agreements (PPAs).
SgurrEnergy, a Wood Group business, supported InstarAGF Asset Management Inc. with lender’s technical due diligence on the projects. SgurrEnergy will also undertake construction monitoring services during the construction phase.
The Shinish Creek wind generation power project involves the construction and operation of a 15 Megawatt (MW), 5 turbine wind power generation project in British Columbia’s Thompson Okanagan region. It is located approximately 33 km west of Summerland, British Columbia.
The Pennask wind generation power project involves a 15 Megawatt (MW), 5 turbine wind power generation project also in Thompson Okanagan region. It is located approximately 44 km west of Kelowna, British Columbia.