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PTERAGEN CANADA INC. OBTAINS REGULATORY APPROVAL FOR ITS 120 MW PEACE BUTTE WIND POWER PROJECT IN ALBERTA

2013-05-20
  • The total project investment in excess of $200 million, a significant portion of which will directly impact the local economy.
  • Construction is expected to commence in Q1 2014 and reach commercial operation by Q4 2014.
  • The wind farm will generate 360,000 MWh of renewable power, enough to power 50,000 average households.

Alberta, Canada – May 2013 –

Pteragen Canada Inc., a Calgary-based renewable energy company and wholly owned subsidiary of Renovalia Energy Wind Canada Inc., announced that it has received final regulatory approval from the Alberta Utilities Commission (AUC) to proceed with construction on its 120 MW Peace Butte Wind Power Project.

Located in S.E. Alberta, twenty-two kilometers south of the city of Medicine Hat, the wind farm is expected to annually generate 360,000 MWh of renewable power (enough to power 50,000 average households) and 250,000 tonnes of sustainable and verifiable “Made-in-Alberta” emission off-sets to help satisfy Alberta’s increasing requirement for renewable energy.

The company estimates the total project investment will be in excess of $200 million, a significant portion of which will directly impact the local economy, creating real jobs and project opportunities for Alberta-based firms.  Construction of the Peace Butte Wind Power project is expected to commence in early 2014 and reach
commercial operation by Q4 2014.

With over 6 years of on-site wind data, the Peace Butte Wind Power Project has proven to be situated in a well-defined and consistent wind resource with more than 3,300 productive hours per year that will provide some geographic diversity to the 1087 MW of wind generation currently operating within Alberta.

The project will be built on 8,800 acres of easily accessible land with careful consideration being given to environmental and wildlife preservation based on extensive consultation with Alberta Environment and Sustainable Resource Development.  Transmission has been secured onto an existing 138 kV transmission line running directly through the property.

Mr. Jaime Galobart, Renovalia’s CEO, stated: “Peace Butte is the result of several years of hard work by our development team and will be our eleventh wind project in our global portfolio.  We are thrilled with the support offered to us by the local residents and landowners and appreciate the excellent work and cooperation during the permit approval process that we have received from Alberta authorities, among them the Alberta Electric Systems Operator (AESO), Cypress County and transmission facility owner Altalink LP.  We are also very excited with the prospect of building the project and working with local engineering and construction firms that will provide significant economic benefits to S.E. Alberta”.

 

About the Company

Renovalia Energy Wind Canada Inc. is a wholly-owned subsidiary of Spain-based Renovalia Energy, a leading world-wide renewable energy company that develops, owns and operates projects in nine countries
(Canada, USA, Spain, Hungary, Romania, Italy, Mexico, Chile and Peru), encompassing wind, solar photovoltaic, thermo-solar and mini-hydro plants. The company has more than 600MW of renewable projects in operation or
under-construction, designed, built and operated by a first-rate team of professional engineers and support personnel across Europe and the Americas.

Recently, Renovalia signed a Joint Venture agreement with First Reserve Corporation, a premier global energy-focused private equity and infrastructure investment firm, to create Renovalia Reserve. The Joint Venture company now holds close to 500MW of operational power and a firm commitment from the partners to continue developing a substantial portfolio of power projects over the next years.

 

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