Renewable Energy Developers acquires Grey Highlands wind project

Up to nine wind turbine generators in southwest Grey County.

TORONTO — Renewable Energy Developers Inc. has entered into a binding agreement with Natenco LLC to acquire the Grey Highlands Clean Energy wind project.

The Toronto-based renewable energy developer, owner and operator, said the 18.5 MW project, located in Grey County, Ont., has a 20-year power purchase agreement with the Ontario Power Authority.

Natenco is a limited-liability company based in Delaware.

No financial details were provided.

Renewable Energy Developers has actively participated in the development of the project that consists of up to nine wind turbine generators since January and will be providing additional funding prior to closing the deal.

It expects to complete the acquisition and build and own the project with a financial partner.

The company also announced it is entering into a definitive agreement with Capstone Infrastructure Corp., which will acquire all the outstanding shares of Renewable Energy Developers through a share exchange, which will result in a larger infrastructure company with power generation facilities across Canada for about 465 MW of installed capacity.