Sea Breeze starts construction of Cape Scott Wind Farm

The $7 million payment was triggered by commencement of construction of the Cape Scott Wind Farm.
In addition to payments related to the original asset purchase transaction and to subsequent milestone achievements of the Cape Scott Wind Farm, Sea Breeze expects to receive an ongoing royalty based on a percentage of gross revenue earned by the project through a 20-year Electricity Purchase Agreement with British Columbia Hydro and Power Authority (BC Hydro). Sea Breeze also holds an option to acquire a 10 percent equity interest in the Cape Scott wind project.

The Cape Scott Wind Farm is situated 35km west of Port Hardy on northern Vancouver Island, within the traditional territories of the Quatsino, Tlatlasikwala, and Kwakiutl First Nations.

Phase 1 of the project is projected to generate sufficient renewable power to provide for the annual electricity needs of approximately 100,000 British Columbians. Commercial operation of the Cape Scott Wind Farm is scheduled to begin in 2013.

Paul Manson, president of Sea Breeze, said: "We are extremely pleased that IPC, an affiliate of GDF SUEZ the world's largest producer of electricity, has decided to invest in this region, and in this project. The local addition of 99 megawatts of clean and renewable energy....Sea Breeze starts construction of Cape Scott Wind Farm

E.ON C&R secures equity financing for Pioneer Trail Wind Farm

The project, located in Ford and Iroquois counties, Illinois, is located 4 miles west of Paxton and consists of 94 GE 1.6 megawatt turbines providing more than 150MW of power - enough to supply clean power to more than 45,000 households in the central Illinois region using North American made turbines, blades and towers.

"We welcome Bank of America Merrill Lynch as an investor in our Pioneer Trail Wind Farm," said Steve Trenholm, CEO, EC&R North America. "This transaction demonstrates EC&R's commitment to boosting local economies and plays a major role in promoting clean, affordable, homegrown energy."

"EC&R closely analyzes the specific aspects of each project to find a customized transaction tailored for the best fit," said Dr Verena Volpert, Senior Vice President Finance, E.ON AG. "We look forward to a mutually beneficial long-term relationship with BofA Merrill."

The project is expected to generate more than $29 million in local taxes, pay $8 million in local salaries, and earn landowners more than $50 million. The Pioneer Trail Wind Farm is the.....E.ON C&R secures equity financing for Pioneer Trail Wind Farm