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BluEarth secures financing for Bull Creek wind project in Canada

CTBR Staff Writer Published 15 June 2015

BluEarth Renewables has closed non-recourse construction and term debt financing for a 29MW wind power project in Alberta, Canada.

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National Bank of Canada and ATB Financial have provided term funding of about $71m for the Bull Creek wind power project.

Construction of the project has been started. It will feature 17 wind turbines that generate enough energy for about 10,000 average homes in Alberta and reduce around 80,000 tonnes of greenhouse gas emissions per year.

The wind farm's initial capacity was proposed to be about 115 MW. In October 2014, BluEarth consulted with the local community on a 17 turbine layout.

The project is in the Municipal District of Provost, about 20km northeast of Provost and 60km southeast of Wainwright, Alberta, near the Saskatchewan border.

The energy generated from the project will be sold to several of Alberta's rural school boards via an agreement reached with the Alberta Schools Commodities Purchasing Consortium (CPC).

BluEarth Renewables president and CEO Kent Brown said: "Bull Creek is expected to inject more than $15 million into the local economy over its life; in addition, there will be more than 50,000 person-hours of direct employment during construction as well as indirect benefits to local suppliers."

Image: The Bull Creek wind power project will feature 17 turbines. Photo: courtesy of BluEarth Renewables Inc.