Capital Power to proceed with $144m wind project in North Dakota

WCN Editorial Team 4 Sep 2017 NORTH AMERICA ENERGY & UTILITIES

Canadian power utility Capital Power has decided to go ahead with its plans to construct CAD182m ($144m) Frontier Wind farm in North Dakota, US. 

The announcement comes in the backdrop of the latest development, whereby the company secured long-term contract for its 99MW facility located in McHenry County, North Dakota.

Recently, Capital Power has inked a deal with a US financial institution to swap power sale returns from the facility for a fixed price payment for a period of 12 years, thus securing long-term predictable revenues.

Additionally, the agreement will enable Capital Power to complete its second wind development project in the US.

Capital Power president and CEO said: “New Frontier Wind further advances our strategy of adding shareholder value by growing contracted cashflows by executing on the Company’s development activities.”

The company is in the final stages of selecting a turbine supplier. The facility is scheduled to begin commercial operations in December 2018.

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