News
N.S. wind farm sold for $121.6m
Atlantic Canada's largest wind farm will soon be controlled by an American power giant.
Creststreet Power and Income Fund LP announced Friday it had signed a deal to sell Pubnico Point Wind Farm in Yarmouth County and its Mount Copper Wind Power project in Quebec to an affiliate of FPL Energy of Florida for $121.6 million.
FPL Energy is the power generation arm of FPL Group, a publicly traded energy company with US$16 billion in assets. ...Creststreet Power of Calgary said it decided to put the two wind farms up for sale after a strategic review process, partly due to the federal government's decision to tax income trusts the same as corporations beginning in 2011.
"In the end, it was determined that the best course of action for unitholders was to realize on the partnership's assets, distribute the proceeds to unitholders and wind up the partnership," president and CEO Robert Toole said in a statement.
April 19, 2008
by Steve Proctor
in The Chronicle Herald
American power giant gobbles up Pubnico Point wind operation
Atlantic Canada's largest wind farm will soon be controlled by an American power giant.
Creststreet Power and Income Fund LP announced Friday it had signed a deal to sell Pubnico Point Wind Farm in Yarmouth County and its Mount Copper Wind Power project in Quebec to an affiliate of FPL Energy of Florida for $121.6 million.
FPL Energy is the power generation arm of FPL Group, a publicly traded energy company with US$16 billion in assets. It has 55 wind farms in 16 states and is the largest generator of wind power in North America and the second largest in the world, behind Acciona Energy of Spain.
Creststreet Power of Calgary said it decided to put the two wind farms up for sale after a strategic review process, partly due to the federal government's decision to tax income trusts the same as corporations beginning in... [continue via Web link]
