Samsung and Pattern Development Sign Power Purchase Agreement for North Kent Wind Project in Ontario
100 MW wind project to create approximately 200 jobs and generate $9 million in benefits, including $5 million in tax revenue and $4 million in community benefits
CHATHAM-KENT, Ontario, April 21, 2015 /PRNewswire/ -- The North Kent Wind project will bring substantial economic benefits to the Municipality of Chatham-Kent. Samsung Renewable Energy Inc. (Samsung) and Pattern Energy Group LP (Pattern Development) today announced that North Kent Wind, a 100 megawatt (MW) wind power project located in the Regional Municipality of Chatham-Kent, has entered into a 20-year power purchase agreement (PPA) with the Independent Electricity System Operator (IESO).
"We appreciate the support we have received from Chatham-Kent for this project, which will provide many benefits in the Municipality including job creation, business for local contractors, property tax revenue, and a $4 million community benefits contribution," said Mike Garland, President and CEO of Pattern Development. "We look forward to continuing to work with the community on advancing this great project and helping Ontario reach its clean energy goals."
"North Kent Wind is the sixth wind project of our $5 billion Green Energy Investment agreement here in Ontario. Samsung is proud to be a part of the Chatham-Kent community and excited about our equity partnership with the Municipality that will create local jobs," said Steve Cho, Vice President of Samsung C&T Corporation. "Samsung is dedicated to delivering meaningful benefits to communities where we are building clean, renewable energy projects."
The North Kent Wind project will employ approximately 200 skilled workers on-site at the peak of construction activity and create approximately 10 permanent jobs once operational. Construction of the project is expected to begin by the end of 2016 and it is expected to reach completion at the end of 2017. Local contractors will be utilized during construction and operations, including Entegrus Inc., which will obtain maintenance contracts for the life of the project.
Samsung and Pattern Development, as part of their commitment to make a positive impact in project area communities, will provide $4 million to the Municipality of Chatham-Kent as a community benefit contribution to be used at the sole discretion of Municipal Council. In addition, the project will generate approximately $5 million in tax revenue over 20 years. The Municipality also has the option to purchase a 15% equity interest in the project, which will provide recurring incremental revenue to the municipality to fund priority projects in the municipality.
Upon completion, the North Kent Wind project is expected to generate clean energy to meet the electricity needs of approximately 35,000 Ontario homes annually, based on average annual residential energy use in Ontario.
About Samsung Renewable Energy Inc.
Samsung Renewable Energy is creating clean, renewable energy for generations to come. Together with our partners, Samsung is making a $5-billion investment in Ontario to create the world's largest cluster of wind and solar power. Our investments will create 900 direct renewable energy manufacturing jobs and 9,000 high-skilled jobs in Ontario. Built on Samsung C&T's commercial and technical expertise and the success of its renewable energy projects in several countries – including the United States and Europe – Samsung is creating real jobs, through real investment, benefitting real people. For more information, please visit www.samsungrenewableenergy.ca
About Pattern Development
Pattern Energy Group LP (Pattern Development) is a leader in developing renewable energy and transmission assets. With a long history in wind energy, Pattern Development's highly-experienced team has developed, financed and placed into operation more than 3,500 MW of wind power projects. A strong commitment to promoting environmental stewardship drives the company's dedication in working closely with communities to create renewable energy projects. Pattern Development has offices in San Francisco, San Diego, Houston, New York, Toronto, Santiago, Chile, and Tokyo, Japan. For more information, visit www.patterndev.com.
Contacts:
Tim Smitheman
Samsung Renewable Energy
416-817-9362
[email protected]
Matt Dallas
Pattern Development
917-363-1333
[email protected]
SOURCE Pattern Energy Group LP
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