Renewable Energy Systems Canada Inc. (“RES”), as Qualified Applicant, and its partner, Boralex Inc. (“Boralex” or the “Corporation”) (TSX: BLX), are pleased to announce being selected by the Independent Electricity System Operator (IESO) and awarded an LRP I Contract for a wind power project of installed capacity of 50MW in the highly competitive LRP I RFP process.
The project named “Otter Creek Wind Farm Project”, which is situated on private lands in the Municipality of Chatham-Kent, is targeted to reach commercial operation by the end of 2019.
RES and Boralex have also been able to obtain the support of the Walpole Island First Nation for this project and the ownership currently stands as follows in the limited partnership interests: RES – 51%, Boralex – 38.5% and the Walpole Island First Nation – 10.5%.
The partnership is also grateful to have received support from the Municipality of Chatham-Kent which has been granted an option to participate in the project up to 15% of the limited partnership interests following commercial operation.
“We look forward to working together with the Municipality of Chatham-Kent and the Walpole Island First Nation to bring the next generation of renewable energy to the area,” said in a common statement by Peter Clibbon, Senior Vice President, Development of RES in Canada and Patrick Lemaire, President and CEO of Boralex. “We are committed to helping Ontario meet its clean energy goals”, they added.
The partnership will organize public meetings shortly in the area of the project to further engage with the communities, describe the community benefits and present the latest evolutions of the project.