Schneider Power, a company developing renewable energy power projects, has purchased a recently built 10 MW wind farm in Ontario, Canada.
The Zephyr wind farm is situated at the Brooke-Alvinston Township in the Canadian province of Ontario. Schneider Power’s subsidiary, Zephyr Farms, will operate the farm. High-efficiency 2.5 MW Samsung wind turbines are used for the project.
The Zephyr wind farm will provide power to the Ontario Power Authority through a 20-year power purchase agreement, which will provide $3 million excess income. Samsung Heavy Industries, a Korean based company, has financed the project.
The project started producing 25% of its power capacity from April 20, 2012 and will produce 100% power from or after May 5. 2012. The wind farm will generate over 26.7 GWh of clean electricity annually. This is sufficient to power 3,000 Canadian homes.
The CEO and President of Quantum, Alan P. Niedzwiecki, stated that the acquisition is a portion of the long-term plan, from which the company becomes an autonomous electricity generator in North America. He added that the company looks to improve its income and nameplate ability to 100% possession, based on the expertise in the renewable energy projects.
Schneider Power is a subsidiary of Quantum Fuel Systems Technologies Worldwide, a company specializing in alternative energy. Quantum is a pioneer in the manufacture of state-of-the-art alternative fuel vehicles, propulsion systems and production of energy storage technologies.
Source: http://www.qtww.com/