TORONTO (August 30, 2019) Potentia Renewables Inc. (Potentia) today announced that it has entered into an agreement with Dream Hard Asset Alternatives Trust (Dream Alternatives) to purchase its Canadian renewable energy portfolio (the Portfolio).
The Portfolio consists of 13.2 MW of operating wind turbines in Eastern Canada and 9.2 MW of operating solar assets located in Ontario. The transaction is expected to close in the third or fourth quarter of 2019, subject to satisfaction of various closing conditions.
We are pleased to purchase this well-run and high contract value operating portfolio that is synergistic to our existing solar assets in Ontario and adds a new Canadian market for operating wind assets in Eastern Canada, said Jeff Jenner, Chief Executive Officer of Potentia Renewables Inc.
Potentias market-leading position is complemented with the addition of 22.4 MW of solar and wind assets in Ontario and Eastern Canada. The operational wind assets in Eastern Canada expand the Canadian reach of our rapidly growing wind portfolio. Earlier this month Potentia started the construction work on its wind energy facility in Western Canada with the groundbreaking ceremony of the 200 MW Golden South Project in Saskatchewan.