Tuesday, September 6, 2011

Sprott Power Corp. closes project financing on Nova Scotia wind farm

Toronto-based Sprott Power Corp. and joint venture partner Firelight Infrastructure Partners LP have closed $45 million CAD in non-recourse, construction and take-out debt financing for its 31.5 MW project in Amherst, Nova Scotia. Construction started in May, 2011 and is expected to be completed in early 2012.

Sprott Power Corp. is developing the Riverhurst I Wind Project in Saskatchewan and was awarded a 10 MW PPA by SaskPower in May 2010. Sprott expects to execute the PPA with SaskPower before the end of 2011. The Riverhurst project is located on 320 acres of private land with an additional 800 acres under lease option. Commercial operation is scheduled for 2013.

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