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Pattern, Henvey Inlet First Nation secure $790m financing to build 300MW wind farm in Canada

CTBR Staff Writer Published 27 December 2017

Pattern Development and Nigig Power, a subsidiary of Henvey Inlet First Nation have secured C$1bn ($790m) of financing for the construction of 300MW Henvey Inlet Wind project to be located near the shore of Georgian Bay in Ontario, Canada.

For this project, 87 of Vestas’ 3.45MW turbines with 136m rotor diameter and 132m hub height will be installed.

The project is being supported by a 20 year power purchase agreement (PPA) with Independent Electricity System Operator (IESO) for 100% of its generation.

Construction of the wind farm is expected to create up to 500 jobs. Once operational, the wind farm will create 15 permanent full time jobs and more than 100 ongoing indirect jobs.

Operations of the wind farm are expected to begin in the first half of 2019 and it will generate enough clean electricity to be supplied to about 100,000 Ontario homes each year. Lease royalties to the tune of C$8m ($6.31m) could be generated annually from the wind farm for the Henvey Inlet First Nation. 

Pattern Development CEO Mike Garland said: "This landmark project is a first on many fronts: largest wind project in Ontario, largest on-reserve wind installation in Canada, highest hub heights in North America, and the first to develop a First Nation Environmental Stewardship Regime under the First Nations Lands Management Act.

"We are proud to be partners with Henvey Inlet First Nation. Together we're excited to kick off construction on this historic project that will harness the strong and steady winds blowing across the Georgian Bay to create hundreds of local jobs and provide a significant new source of revenue for Henvey Inlet First Nation."

After the completion of the construction, Henvey Inlet Wind will continue to be jointly owned and operated by Pattern Development and Henvey Inlet First Nation. While Pattern Development owns a 50% stake in the project, Nigig Power Corporation holds the remaining stake.


Image: The wind farm will include 87 of Vestas’ turbines. Photo: Courtesy Martin Boose/FreeImages.com.