The power purchase agreement is one of the first to be signed under Ontario’s new Feed-in-Tariff program which pays $135 dollars per Megawatt-hour to renewable electricity generators. The wind turbines project is anticipated to create more than 40 jobs during the construction phase and approximately 3 permanent positions.
Schneider Power’s President Thomas Schneider said the agreement with the Ontario Power Authority is an important step in the company’s efforts to increase its renewable energy portfolio. "This project is a good example of developing renewable energy resources in remote parts of our Province." he further added "We look forward to continuing with our mission of creating jobs and providing renewable energy to the residents of the Province of Ontario."
Schneider Power Inc. is one of North America’s premier renewable energy companies, with a portfolio in excess of 1,000 MW of clean electricity generation development projects across two continents, and large land positions on the most promising and prospective wind and solar power areas in North America and the Caribbean. Schneider Power Inc. was recently acquired by Quantum Fuel Systems Technologies Worldwide (NASDAQ: QTWW).
Quantum Fuel Systems Technologies Worldwide Inc. is a fully integrated alternative energy company – a leader in renewable energy generation systems and services and development and production of advanced clean mobility systems. Quantum’s portfolio encompasses solar module manufacturing, wind and solar energy generation power plants, and clean, energy efficient hybrid-electric vehicles propulsion systems, light-weight energy storage technologies and hydrogen refueling systems. Quantum’s customer base includes automotive and aerospace industry OEMs, military, the US Department of Energy and other government entities, consumer and investor-owned utilities, and other strategic alliance partners.