SOURCE: juwi Wind Canada Ltd.
HALIFAX, NS--(Marketwired - Dec 4, 2013) - Firelight Infrastructure Partners has purchased juwi Wind Canada Ltd.'s stake in the six-megawatt (MW) Millbrook Community Wind Project. The project, which is being developed under Nova Scotia's Community Feed in Tariff Program (COMFIT), is near the Millbrook reserve and is part of a larger portfolio of projects developed by juwi targeting construction in 2014. juwi will remain an integral part of the project as an experienced industry partner offering development, financing, and construction management expertise. juwi will also remain on as the project's asset manager.
Firelight Infrastructure Partners joins Millbrook Band, as co-equity owner in the project. juwi Wind Canada President Michael Rucker said of the community partner, "juwi has worked closely with the leadership of Millbrook Band for several years to bring this project to fruition, without Millbrook's leadership we would not be here today." Rucker went on to say, "We are pleased to remain on as a strong project manager through construction and into operations, and we are excited to have a capable owner-investor such as Firelight Infrastructure Partners to help us realize our aspirations of Nova Scotia community wind energy."
Firelight Infrastructure Partner's Vice President Mike Kosiancic said of the transaction, "Firelight matches its strong capital position and proven investment capabilities with project developers who have vision, experience and technical expertise. Millbrook Community Wind is a natural extension of our ownership-investment philosophy. We are excited to join Millbrook in investing in this project, it will be a strong symbol of our collective commitment to environmentally conscientious economic development."
With the closing of the equity, the project has ordered V100-2.0 MW turbines from Vestas, bringing additional community investment, jobs and training while reducing the province's dependence on traditional energy generation. "We welcome juwi Wind as a new North American customer for Vestas and we are confident they will achieve great return on its investment with the V100-2.0 MW," said Chris Brown, President of Vestas' sales and service division in Canada and the United States.
About juwi Wind Canada Ltd
juwi Wind Canada Ltd is a subsidiary of the juwi Group, a major international developer of renewable energy projects. juwi Group has been designing, building and operating plants that harness renewable energy since 1996, and to date juwi Group has installed approximately 700 wind turbines worldwide at 100 sites, producing a total output of approximately 1400MW. juwi's North American wind operations are based in Boulder, Colorado.
About Firelight Infrastructure Partners
Firelight Infrastructure Partners is a Canadian partnership that invests in North American renewable energy projects including wind, hydro and solar. Firelight partners with experienced developers to provide the capital necessary to develop, construct and operate high quality renewable energy projects. With $300 million of committed capital, Firelight matches its financial strength and industry knowledge with the technical expertise of its partners. Firelight investments include the RMSenergy Dalhousie Mountain Project and Amherst Wind Power.
About Millbrook First Nation
Millbrook First Nation is located in Truro, Nova Scotia. The community has a stellar track record in financial management. Through the Millbrook First Nation Economic Development Corporation, Millbrook has established profitable business relationships, ownership and equity positions in real estate holdings and other business ventures throughout Nova Scotia. The Millbrook First Nation continues to pursue economic development and regional growth opportunities that in turn meet the social and economic needs of its membership.