Wind farm to change ownership

Brookfield Renewable Thunder Mountain advances as Brookfield acquires a controlling stake from Aeolis, adding Redwillow, targeting a 320 MW wind farm near Tumbler Ridge, B.C., pending a long-term power purchase agreement and stakeholder engagement.

One of northern British Columbia's most promising wind-power projects is in new hands.

The pending Thunder Mountain wind-farm project based near Tumbler Ridge was owned primarily by the Aeolis Wind Corporation until just recently, when Aeolis accepted an offer from Brookfield Renewable Power Inc. to buy a controlling stake in the alternative electricity generation project. Brookfield also acquired Aeolis' Redwillow proposed wind farm in the same region, as B.C. firms pursue California wind opportunities as well in the broader market.

"Brookfield Renewable will lead and control future development of the project with involvement of the Aeolis team," said Brookfield spokesperson Zev Korman. "Aeolis has undertaken initial development and permitting activities on the project since 2005, and will have the option to retain certain ownership in the project on completion."

Brookfield has more than 100 years of history in the hydroelectric field, and, having moved its control center to Marlborough recently, is also a major player in the wind-electric field as owners of the Prince Wind Farm near Sault Ste. Marie, Ontario.

"We believe this site to be one of British Columbia's more advanced wind development projects and its location in one of the province's most attractive wind regimes should position it competitively for future development," said Ralf Rank, Brookfield's chief investment officer. "We look forward to working with local stakeholders to continue development of this promising resource amid news that a new wind facility in Alberta has opened recently, which underscores market momentum. Future capital investment and start of construction is dependent, among other factors, on securing a suitable long-term power purchase agreement."

Aeolis was the company that first started the Bear Mountain Wind Farm project at Dawson Creek, and it received Ottawa investment during development, which is now the only operational wind farm in B.C. It is now owned by AltaGas Ltd.

The investment made by Brookfield has an environmental assessment certificate for approximately 320 megawatts of wind generation, comparable to an Alberta wind project announced by a Buffett-linked developer, if they reach full expected production.

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