Potentia Renewables Inc. (Potentia) is pleased to announce that it was successful in SaskPowers latest wind energy procurement process. Potentia and SaskPower have signed a 25-year power purchase agreement for 200 megawatts of low-priced wind electricity, representing approximately $800 million of revenue over the contract life. Potentia has brought together a successful and experienced wind development team to compliment its industry-leading solar-energy expertise. The team has built the largest wind development platform in Western Canada and expects additional exciting announcements over the next year given the level of contract activity and the world-leading renewable energy prices we are able to offer utilities and other credit-worthy counterparties.
Potentia is pleased at having been selected by SaskPower in the competitive tender process. This success represents a milestone for Potentia, achieved through a decade of development efforts by our subsidiary Sequoia Energy in cooperation with the government, local communities and landowners said Jeff Jenner, Chief Executive Officer of Potentia. We look forward to working with SaskPower to deliver additional renewable energy to the Saskatchewan electricity grid while bringing economic benefits associated with the facility to the Province, local suppliers, communities and landowners.
Potentias Golden South Wind Energy Facility is located south of the Town of Assiniboia and will consist of up to 60 turbines. The Facility could begin commercial operation as early as 2021 and will produce enough renewable electricity to power approximately 90,000 Saskatchewan homes. The Golden South Wind Energy Facility will bring SaskPowers total wind power capacity to more than 600 megawatts (MW).
Congratulations to everyone at Potentia on their winning proposal. We look forward to working with you as this project begins to take shape, said SaskPower President and CEO Mike Marsh. Wind power will play a significant role in our goal to reduce our greenhouse gas emissions by 40 per cent by 2030. This added renewable power is an important step towards reaching that goal.
The full SaskPower media release can be read here.
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