This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Greengate Power Sells Its 300 MW Blackspring Ridge Wind Project: Western Canada's Largest Wind Energy Project

CALGARY, April 8, 2013 /PRNewswire/ - Greengate Power Corporation ("Greengate") is pleased to announce that it has completed the sale of its construction-ready 300 MW Blackspring Ridge Wind Project ("Blackspring Ridge") to Enbridge Inc. and EDF EN Canada Inc. Greengate will provide development services to Enbridge and EDF EN Canada during the construction of Blackspring Ridge. Located in Vulcan County, Alberta, Blackspring Ridge is expected to be Western Canada's largest operating wind energy project upon completion in 2014. Enbridge and EDF EN Canada will each own 50 percent of the Project. Blackspring Ridge represents the largest investment in wind energy in Alberta at approximately $600 million.

The sale of Blackspring Ridge follows the successful sale of Greengate's construction-ready 150 MW Halkirk Wind Project ("Halkirk") in June 2011. Halkirk is currently the largest operating wind energy project in Alberta, but will be surpassed by Blackspring Ridge once it is operational. These two projects totalling 450 MW are expected to reduce greenhouse gas emissions by more than 20 million tonnes over 25 years, provide a clean source of power to approximately 200,000 homes and result in nearly $1 billion of investments in wind energy in Alberta.

"The sale of Blackspring Ridge to Enbridge and EDF EN Canada ensures that Western Canada's largest wind energy project will be constructed and that the associated economic and environmental benefits will be realized," said Dan Balaban, President and CEO of Greengate. "This successful project is another example of the world-class development capabilities of our team."

CIBC World Markets Inc. acted as financial advisor to Greengate in connection with the sale of Blackspring Ridge.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,252.50 +119.80 0.66%
S&P 500 2,112.88 +8.38 0.40%
NASDAQ 4,991.2120 +27.6850 0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs