"This is a great day for Shear Wind. Not only are we marking the official opening of Glen Dhu Phase 1 – our Company’s first major wind farm at 62.1MW; but we’re celebrating this community’s contribution to clean, renewable energy," said Mike Magnus, President & CEO, Shear Wind. "We couldn’t have come this far without the community support, the Government’s vision, and the participation and hard work from our project partners and employees here at Glen Dhu."
The Glen Dhu Wind Farm allows the province to meet its 2015 renewable energy targets. The wind energy produced by the Glen Dhu Wind Farm is expected to represent 35 per cent of Nova Scotia Power’s 2010 Renewable Energy Standard (RES) target and is anticipated to produce energy to power 18,000 homes.
"In 2002, we had two wind turbines in Nova Scotia. Today there are more than 160 commercial wind turbines," said Premier Dexter. "Nova Scotia has some of the most ambitious renewable energy targets in the world. We are achieving those targets through the hard work, ingenuity and innovation of organizations such as Shear Wind. It’s an exciting time to be part of the energy business in Nova Scotia."
Genera Avante Holdings Canada Inc., a subsidiary of Inveravante Inversiones Universales, S.L., in Spain is Shear Wind’s largest shareholder. Inveravante has ownership of wind facilities in Europe and parts of South America.
Shear Wind estimates that the Glen Dhu Wind Farm has resulted in a direct and indirect investment of approximately $40 million in Nova Scotia, $22 million of which has been invested directly in Pictou and Antigonish counties and $2 million of which was generated through worker spending.
"At its peak, 120 workers were employed producing 140,000 direct full-time equivalent hours," said Ian Tillard, Chief Operating Officer. "I’m proud to say that 83 per cent of the work was done by Nova Scotians."
Shear Wind has mapped out a three-fold expansion for Glen Dhu in Phases two and three that will harness the steady Northumberland Strait winds and produce more wind energy. Shear Wind estimates that a phase two and phase three expansion of the Glen Dhu site could realize an additional 170 Megawatts. The company also has properties for wind farm development in New Brunswick and Alberta.
Founded in 2005, Shear Wind is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable wind energy properties in Canada. Shear Wind is focused on building a strong company based on a secure and sustainable supply of clean wind energy. Shear Wind is committed to building shareholder value governed by environmental stewardship. Inveravante Inversiones Universales, S.L., an international corporation based in Spain, indirectly owns 62% of Shear Wind on a fully-diluted basis and 49% of Glen Dhu Wind Energy Limited Partnership through Genera Avante Holdings Canada Inc., following its investment in Shear Wind in November 2009.