‘This project was in its early stages of development when we first became involved,’ said Richard Legault, Chief Executive Officer of Brookfield Renewable. ‘We were able to quickly bring our expertise to bear, and in the span of approximately one year, secured a long-term power purchase agreement, an interconnection agreement and project financing, as well as the completion of all other engineering and commercial requirements which enabled construction to begin. This project demonstrates our ability to deploy both capital and operating expertise and to work together with our stakeholders to build significant value.’
‘We are pleased to add to our operating footprint in California and grateful to all those who played a part in the development of this project and bringing it to completion on time, scope and on budget,’ added Mr. Legault.
All wind power produced from the wind energy project will be sold under a 20-year power purchase agreement with a large, local utility. The wind farm is expected to produce enough clean, renewable power annually to power more than 26,000 U.S. homes on average.
Brookfield Renewable Energy Partners (TSX: BEP.UN) operates one of the largest publicly-traded, pure-play renewable power platforms globally. Its portfolio is primarily hydroelectric and totals approximately 5,000 megawatts of installed capacity. Diversified across 67 river systems and 10 power markets in Canada, the United States and Brazil, the portfolio generates enough electricity from renewable resources to power two million homes on average each year. With a fully-contracted portfolio of high-quality assets and strong growth prospects, the business is positioned to generate stable, long-term cash flows supporting regular and growing cash distributions to unitholders.