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Capital Power selects Vestas turbines for three Canadian wind projects
Capital Power selects Vestas turbines for three Canadian wind projects
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n\n Jun. 23, 2010 (Canada NewsWire Group) -- Capital Power Corporation (Capital Power or The Company) (TSX: CPX) has selected Vestas (NASDAQ OMX Copenhagen: VWS) for the supply and maintenance of 517 megawatts (MW) of wind turbines for Capital Power's proposed wind power projects in Ontario and British Columbia.\nUnder a contract with Capital Power L.P., the legal entity that directly and indirectly holds Capital Power's Ontario and British Columbia wind project assets, Vestas will supply and commission seventy nine 1.8 MW wind turbines (44 model V100 and 35 model V90) at Capital Power's proposed 142 MW Quality Wind Project in British Columbia.\nTurbine supply and maintenance agreements have also been signed for fifty eight 1.8 MW wind turbines (V90) for the 105 MW Port Dover and Nanticoke Wind Project in Ontario, and one hundred fifty 1.8 MW turbines (V90) for the proposed 270 MW Kingsbridge II project also located in Ontario. The agreements cover all scheduled and unscheduled maintenance for the towers and turbines for a period of 10 years following commissioning. Capital Power will be responsible for the installation of the turbines and towers.\nThe projects referred to above are expected to proceed upon provincial environmental and regulatory approvals, and in the case of Kingsbridge II, an award of a Feed-in-Tariff (FIT) power contract with the Ontario Power Authority (OPA). Should all three projects be developed, Vestas would deliver a total of 287 turbines to Capital Power. Vestas has advised that, as of December 31, 2009, it has supplied more than 950 turbines to companies for wind projects across Canada.\n"These turbine agreements with Vestas represent a significant milestone as the majority of the capital costs for the projects are now fixed, providing cost certainty and capitalizing on economies of scale," said Capital Power President and CEO, Brian Vaasjo. "As we advance our contracted generation portfolio, we are looking to build on the success that Capital Power and Vestas have had on the Kingsbridge I wind farm, which has twice been Ontario's best performing wind farm."\nIn March 2010, BC Hydro announced that Capital Power's Quality Wind Project had been selected for the award of an Electricity Purchase Agreement (EPA). The EPA was signed in April 2010. The 142 MW wind power project will i...