"We are delighted the court, creditors and Interwind management have accepted our offer as the best way to move forward Interwind’s portfolio of renewable energy projects," said Sean Finnerty, CPV Sr. Vice President. "CPV is committed to growing our portfolio of renewable energy projects in Canada and help build a bridge to a sustainable energy future."
CPV Canada Development ULC, an affiliate of Competitive Power Ventures, Inc., is advancing a broad portfolio of wind and natural- gas generation projects across North America. Led by a blue chip management team and the financial backing of the investment fund Warburg Pincus, CPV is fast becoming a leader in the development of renewable energy.
For more information about the project and CPV please go to www.cpv.com.
CPV is comprised of three main business lines: Wind Generation Development, Asset Management, and Thermal Generation Development.
Wind Generation Development: CPV Renewable Energy Corp. currently has 6,100 MW of high quality wind power projects under site control, 1,800 MW of which are in advanced development; including over 350 MW with executed long term PPAs.
Asset and Energy Management: CPV currently manages the day- to-day operation, maintenance and energy trading of over 4,400 MW of generation in eight states to provide improved financial returns and enhanced environmental protection to the owners and greater benefits to the consumers.
Thermal Generation Development: CPV is actively developing combined-cycle and combustion turbine facilities totaling approximately 4,300 MW of generation, in markets with the greatest need for efficient, reliable electricity capacity in the U.S. and Canada.
The acquisition of Interwind would be a further expansion of its presence in the Canadian market. CPV is currently developing a 400 MW natural gas-fired peaking facility in North Dumfries (near Cambridge), and a 1,200 MW combined cycle natural gas-fired project in the Nanticoke area (consistent with Canada and Ontario’s efforts to reduce its electric generation carbon footprint by reducing the reliance on coal).