Eolectric Completes Acquisition of Vents du Kempt

Eolectric Inc. ("Eolectric"), co-founder and significant shareholder of Vents du Kempt Inc. ("VDK"), announced it has acquired 100% of the issued and outstanding shares of VDK, allowing it to pursue the advanced development of the 100 MW Vents du Kempt wind farm project.

"This acquisition strengthens Eolectric’s desire to bring projects closer to reality", said Guy Painchaud, President of Eolectric. "We take pride in and are committed to developing quality wind energy projects, mindful of the environment and dedicated to creating lasting partnerships with host communities."

The 100 MW windfarm project is located in the Matapedia Valley, in the Lower St-Lawrence region in eastern Quebec. The project, initiated in 2002 by Eolectric, was selected in 2008 by Hydro-Quebec Distribution in its 2,000 MW request for proposals for wind energy projects. A 20-year power purchase agreement was executed on June 27th, 2008 between Hydro-Quebec Distribution and VDK for the sale of the project’s energy. The project consists of 50 wind turbines to be located mostly on privately-owned land within the municipalities of Causapscal, Ste-Marguerite and Ste-Florence. Start of construction is scheduled for 2013 and the project is expected to be in full commercial operation by December 1st, 2014.

"We are extremely pleased by the acquisition which confirms the dedication of Eolectric to the project, notwithstanding the distant five-year commercial operation date. We are actively pursuing the project development and we intend to complete the environmental permitting activities by 2011. Our main focus will be to strengthen the ties with the local community as well as with business relationships with key project participants", said Philippe Junger, President of VDK.

By harnessing green, wind-generated energy, Eolectric is investing in one of the leading means for reducing greenhouse gas emissions and for countering global warming. This approach permits Eolectric to initiate and to carry out projects offering high potential.

Fully aware of the human issues involved in deploying major wind-powered projects, Eolectric makes sure to act out of respect for the desires of host communities, land owners and regulatory authorities. Each project is evaluated to ensure that it will optimize the production of wind-generated electricity, while minimizing resident impact.

Specialized in the management and development of wind energy projects, Eolectric demonstrates its unwavering commitment on all fronts. Dedicated to its partners, Eolectric takes the time to listen to what they say and to assess the needs they outline in the development and construction of high-quality projects meeting the highest industry standards. Eolectric employs its skills and know-how in offering clients effective and affordable solutions that will ensure optimal energy production and minimize required investments. Eolectric ultimately does all in its power to create and to maintain long-term business relationships, while acting with integrity in respecting the interests of host communities and land owners.

Because of the vast range of knowledge it offers, Eolectric can assume responsibility for complete projects in all of their aspects. Each preliminary phase involved in setting up a wind farm is accordingly carried out in line with the rules of the trade. Nothing—from obtaining environmental and governmental permits to putting together financing packages—is left to chance.

The presence of strong and steady wind is needed to ensure the cost effectiveness of a wind resource. The experience of Eolectric’s engineers and scientists gives them clear know-how for carrying out wind-measuring campaigns, judiciously selecting the best sites, determining optimal wind turbine positions and defining their power grid connection potentials.

Some people will say that wind turbines don’t fit into the landscape, are noisy or cannot meet all of our energy needs.
Supporting the environment

Eolectric takes every necessary step to ensure that its projects develop in harmony with the environment. Our environmental specialists and landscape architects apply their extensive studies in this field to producing plans that will maximum wind farm efficiency while enhancing aesthetic compatibility.

Wind turbines make no more noise than is emitted by the typical home, while the wind itself usually masks the sound of spinning blades. Still, we systematically study noise impact to ensure the comfort of those located in the immediate vicinity of such projects.
This is where it starts

Wind energy clearly cannot yet meet the North America’s entire demand for electrical power. Diversifying our energy resources, however, represents a sensible means of protecting our precious natural resources.

For many years, Eolectric has been initiating and contributing to the development of various wind energy projects, most of which are located in Canada. Eolectric is making significant investments in research, characterization and predevelopment of new Mexican sites offering strong wind energy potential.

Nearly 600 Megawatts of power are covered by power sales agreements with public utilities.

About Eolectric

Established in 2001, Eolectric has invested significantly in the identification and development of wind power projects in preparation for the two large wind calls for tenders issued by Hydro-Quebec in 2003 and 2005.

Eolectric is one of today’s leading independent wind project developers in Canada. It is involved at various levels in over 20 projects across Canada and Mexico. Eolectric’s team has successfully assembled a pipeline of wind power projects representing close to 3,000 MW. It highly values and invests great efforts in local project acceptance, sound project design, comprehensive permitting, as well as in entering into key agreements with leading industry partners.