Gulf Oil and Gas accountACCOUNT

Natural Power Advises on New Frontier Wind Project

Source: www.gulfoilandgas.com 1/25/2019, Location: North America

Natural Power has provided the finance-grade energy yield analysis (EYA) and associated reliance letter for Capital Power Corporation’s 99MW New Frontier Wind Project in McHenry County, North Dakota.

Jim Adams, President of Natural Power North America, said: “It’s fantastic to be involved in a project of this scale which underpins the continued growth of the US renewable energy market. Our EYAs are relied upon for both wind and solar financing, and it’s encouraging to see widespread market acceptance across the tax equity community and confidence in our work as our team continues to expand to meet the needs of the industry”.

The New Frontier Wind facility, featuring 29 Vestas V126-3.45 wind turbines, was completed on schedule and below its original project cost estimate of approximately $182 million (US$145 million), and began commercial operation on December 21, 2018. On December 31, 2018 Capital Power received approximately $125 million (US$92 million) in net tax equity financing from J.P. Morgan in exchange for Class A interests of a subsidiary of the Company.

Capital Power will operate New Frontier Wind under a 12-year fixed price contract with an investment grade U.S. financial institution covering 87% of the facility’s output. Under the contract, Capital Power will swap the market revenue from a fixed volume of New Frontier Winds generation for a fixed price payment over a 12-year term.

Paul Wendelgass, Managing Director at Capital Power, said: “Natural Power’s role as an independent engineer for energy yield analysis was critical in helping New Frontier achieve commercial operation and tax equity investment within the timescale required”.

Wind Energy News in United States >>

United States >>  5/28/2019 - Bechtel, a global leader in project management, engineering, and construction, has been awarded the engineering, procurement, and construction (EPC) c...
United States >>  5/22/2019 - Sempra Energy (SRE) and Saudi Aramco announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement...

United States >>  5/21/2019 - With reference to announcements on 2 May 2019, TGS-NOPEC Geophysical Company and Spectrum have announced that their respective board of directors have...

Related Categories: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 

Related Articles: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.