Toronto, Ontario (July 10, 2023)- Potentia Renewables Inc., a 100% Canadian owned, fully-integrated developer, operator and asset manager of renewable energy and storage assets, is pleased to announce the successful acquisition of three renewable energy projects from Horizon Legacy Group. The closing date for the acquisition was March 31, 2023. The projects were purchased on behalf of Power Sustainable Energy Infrastructure Partnership (PSEIP).
The acquired projects include the Ernestown Wind Park, Maryvale Wind Project, and Bala Generating Station. Each project contributes to Potentia’s mission of advancing sustainable energy solutions and supporting the transition to a greener future.
The Ernestown Wind Park, located in Loyalist Township, Ontario, is a 10MW facility featuring five 2.0MW Enercon (E82) turbines. This project, operating under a Feed-in Tariff (FIT) agreement, will generate clean and renewable electricity to power local communities while reducing greenhouse gas emissions.
The acquisition also includes the Bala Generating Station, a 4.7MW run-of-river facility situated in Bala, Ontario. This project, also operating under a FIT agreement, harnesses the power of flowing water to generate sustainable electricity.
In Nova Scotia, the Maryvale Wind Project adds a capacity of 6MW to PSEIP’s renewable energy portfolio. Equipped with four 1.5MW (V-77) Vensys turbines, this project is in Maryvale, Antigonish County and is operating under a PPA with Nova Scotia Power.
“We are thrilled to have completed the acquisition of these three renewable energy projects from Horizon Legacy Group,” said Jeremy, Jagt, President at Potentia Renewables Inc. “These projects align perfectly with our commitment to sustainability and contribute significantly to the clean energy transition in both Ontario and Nova Scotia.”
The projects were refinanced upon acquisition by Desjardins Group. The cooperative financial group plans to increase the share of renewable energies in the financing it provides to major companies in the energy sector to 35% by 2025. “Desjardins intends to be at the forefront of Canada’s energy transition, and the Potentia Renewables acquisitions in Ontario and Nova Scotia are perfectly aligned with our carbon-neutral goals to achieve net zero emissions by 2040,” said Mathieu Talbot, Vice-president, Business Services Group and Corporate Banking at Desjardins Group.
About Potentia Renewables
Potentia Renewables Inc., a wholly owned subsidiary of Power Sustainable, is a fully-integrated developer, manager and operator of renewable energy assets. Potentia currently owns or manages nearly 1,000 MW of wind and solar projects in operation, under construction, or under contract. With an investor committed to long-term success, combined with the industry-leading experience of our team, Potentia is a prominent renewable energy provider in Canada that is ideally positioned for continued substantial growth. For more information, visit www.potentiarenewables.com.
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