Beothuk Energy in Canada has agreed a partnership with one of the world’s leading offshore wind investors, Copenhagen Infrastructure Partners (CIP) to develop, own and operate offshore windfarms in Atlantic Canada.
“Beothuk is thrilled to be in business with one of the world’s leaders in renewable energy financing,” said Beothuk chief executive Kirby Mercer. “CIP brings tremendous capabilities and experience to the table as well as capital to help us quickly become one of Canada’s leading wind power developers and the first with an offshore project.”
On behalf of Copenhagen Infrastructure II, CIP has entered into an agreement with Beothuk to jointly develop, own and operate offshore windfarms supplying power to Atlantic Canada, starting with the 180 megawatt (MW) St George’s Bay windfarm in Newfoundland. Beothuk has secured approvals and significantly advanced the development of the project since 2011 and will jointly with CIP fund the final development of the project to secure a power purchase agreement for the energy to be delivered into Newfoundland. CIP will subsequently invest all of the capital required to construct the project.
“We are looking forward to developing the St Georges Bay project with Beothuk”, said CIP senior partner Christina Grumstrup Sørensen. “We see significant potential for offshore wind in Atlantic Canada due to strong winds, shallow water and an existing industry with experience in working in an offshore environment for many years.”
Projects are being advanced by Beothuk in Newfoundland, Nova Scotia, New Brunswick and Prince Edward Island which could total over 1GW when completed. “The 180MW St Georges Bay project will supply clean energy to more than 150,000 households once constructed, create more than 500 jobs during the construction phase, and foster a new industry in Atlantic Canada to construct and service the Beothuk projects and other projects in the region,” the company said in a statement.
Beothuk says it has opted for a cost effective gravity-based foundation for use on the windfarm, taking advantage of synergies found in Atlantic Canada’s offshore oil industry, and has selected Siemens SWT-8.0-154 turbines for the project.