The JV company plans to have 46 MW of wind energy in operation in 2010 with an additional 62 MW of wind due for completion in 2012.
The 46 MW Old Man River wind power project, located in the Pincher Creek area of Alberta, is at the final stages of development and will be ready for construction in late 2009, while the 62 MW Windy Point Wind Farm is due to be fully operational by 2012.
Under the terms of the agreement, Mainstream holds an 80% share of the wind JV, with Alberta Wind Energy taking a 20% stake.
Stewart Duncan, President and CEO of Alberta Wind Energy, says: “Demand for electricity in [Alberta] is growing, while fossil fuel generating stations are nearing the end of their life and will require decommissioning or refurbishment. A recent forecast by Alberta’s Electric System Operator indicated that Alberta will need an additional 5000 MW of generation by 2017. Furthermore, Southern Alberta has some of the best wind sites for power generation anywhere in onshore North America.”
Sherra Zulerons, Mainstream’s Country Manager for Canada, adds: “Getting connected to the transmission system can be a major obstacle for new wind generation in Alberta. All of our projects have already obtained, or are in the process of obtaining grid connection agreements. This is a major plus.”