Mr. Mike Magnus, Shear Wind’s President and CEO stated, "We are very pleased to have received this approval in relation to the Glen Dhu South Project. We are in the process of finalizing our submissions to respond to Nova Scotia Power Inc.’s Request for Proposals (RFP) for Renewable Energy Projects, anticipated to close in May and have two sites which we plan to submit – the Glen Dhu South Project and our Canaan Mountain Project in Cumberland County. The Approval takes us a step further in our readiness and we are pleased with our progress."
The Approval was provided in a letter to Mr. Magnus recently received from The Honorable Sterling Belliveau, Minister of Environment which confirmed that, following a review of the information provided by Shear Wind, and the information provided during the government and public consultation processes, Government is satisfied that any adverse effects or significant environmental effects of the undertaking can be adequately mitigated through compliance with the specified terms and conditions. The Approval is based upon the review of the conceptual design, environmental baseline information, impact predictions and mitigation presented by Shear Wind in its registration document.
Shear Wind built and is operating the 62MW Glen Dhu Wind Energy facility (the "Glen Dhu Project"), which is adjacent to the site of the Glen Dhu South Project, and is presently the largest wind turbines facility in Nova Scotia.
Ian Tillard, Chief Operating Officer of Shear Wind, and project facilitator agreed, "We are extremely pleased with our Environmental Approval, and are working hard to get all the other planning and permitting milestones addressed as we move forward towards the upcoming RFP. Our goal is to provide a community-based generation facility through the Glen Dhu South Project which provides clean power to the surrounding communities and to all of Nova Scotia."
Shear Wind has projects in development in Nova Scotia, New Brunswick, Saskatchewan and Alberta. Currently Shear Wind is working through the stages of an Alberta Utilities Commission application process to obtain a license to build the 100MW Willowridge Wind project. Magnus further stated, "We are really pleased to be able to advance projects concurrently in both provinces, and are looking forward to finalizing the development and construction for Willowridge in 2013-2014."
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Shear Wind in any jurisdiction.
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.