Samsung, Pattern Energy and Six Nations Complete Wind Energy Project in Ontario
Involving More Than 1,000 Ontarians and Using Ontario-Made Turbines, Grand Renewable Wind Facility Will Now Generate Clean Energy for 50,000 Homes
TORONTO, Jan. 12, 2015 (GLOBE NEWSWIRE)
Ontario's newest wind facility is now up and running. Samsung Renewable Energy, Inc. (Samsung) and Pattern Energy Group Inc. (Nasdaq:PEGI) (TSX:PEG) (Pattern Energy) today announced that the Grand Renewable Wind project has completed construction and reached commercial operation. The 149 megawatt (MW) Grand Renewable Wind facility has the capacity to produce clean power for approximately 50,000 Ontario homes each year.
"Wind provides clean, emission-free electricity for Ontarians while creating thousands of jobs and economic opportunities," said Bob Chiarelli, Minister of Energy. "Collaborative projects like this one will help wind reach 15 per cent of the province's installed capacity by 2025."
"The Six Nations Elected Council is committed to ensuring we enter into sustainable development projects that not only enrich our economy but are also socially and environmentally responsible," said Chief Ava Hill, Six Nations Elected Council. "Both Samsung and Pattern Energy committed to developing an equity partnership with Six Nations, the way they approached the partnership with Six Nations set the bar on how we want to work with businesses to enable us to generate resources for our future generations."
"Samsung is proud to be part of the Haldimand community and excited about our historic equity agreement with Six Nations Elected Council," said Mr. Steve Cho, Vice President, Samsung C&T. "The Grand Renewable Wind facility along with our other projects in the Province are creating thousands of high-skilled jobs that will benefit real people in this community and across Ontario."
"We are honored to be able to further expand our presence in Ontario through this partnership with the Six Nations," said Mike Garland, CEO of Pattern Energy. "The commissioning of the Grand Renewable Wind facility by the end of 2014 brings our number of Ontario facilities to two in operation, two in construction and two in late stage development, totaling 1,269 megawatts to be installed in the province by 2018. We would like to thank the Six Nations and the community of Haldimand for their support."
"We're proud to bring our proven technology to the Grand Renewable Wind project and to continue to provide Ontario with jobs, economic growth and affordable and sustainable wind energy," said Jacob Andersen, Head of Wind Power Renewables, Siemens Canada Limited.
Grand Renewable Wind utilizes 67 Siemens 2.3 MW wind turbines with blades and towers that were made in Ontario. Siemens' turbine blade facility in Tillsonburg manufactured the blades for the project and CS Wind's facility in Windsor used Ontario-made steel to manufacture the turbine towers.
The Grand Renewable Wind facility had more than 500 workers on site during peak construction and created 12 full-time permanent positions for ongoing operations and maintenance. Over 98% of the workforce was comprised of workers from Ontario, which were involved in every aspect of the project – from manufacture and assembly of the wind turbine components to site construction, installation work and project operations. Altogether, Samsung and Pattern Energy's wind power projects in Ontario are creating thousands of manufacturing and construction jobs, contributing significant property taxes in host communities, and providing millions of dollars for schools and important community projects.
In a historic first for Ontario, Samsung and Pattern Energy have entered into an equity partnership with Six Nations of the Grand River. The Six Nations community owns 10% of the Grand Renewable Wind project. Samsung and Pattern Energy also provided a $400,000 donation to the Grand River Post-Secondary Education Office, which will increase opportunities for Six Nations students.
Acting on their commitment to make a positive impact in their project communities, Samsung and Pattern Energy have introduced the more than $15 million Community Vibrancy Fund for Haldimand County. The fund will support local community, environment, health and wellness initiatives. The fund will provide a stable source of support over the next 20 years.
The electricity from Grand Renewable Wind, which is helping Ontario reach its clean energy goals, is committed to the Independent Electricity System Operator (IESO) under a 20-year power purchase agreement.
About Samsung Renewable Energy Inc.
Samsung Renewable Energy is creating clean, renewable energy for generations to come. Together with our partners, Samsung is making a $5-billion investment in Ontario to create the world's largest cluster of wind and solar power. Our investments will create 900 direct renewable energy manufacturing jobs and 9,000 high-skilled jobs in Ontario. Built on Samsung C&T's commercial and technical expertise and the success of its renewable energy projects in several countries – including the United States and Europe – Samsung is creating real jobs, through real investment, benefitting real people. For more information, please visit www.samsungrenewableenergy.ca
About Pattern Energy
Pattern Energy Group Inc. (Pattern Energy) is an independent power company listed on the NASDAQ ("PEGI") and Toronto Stock Exchange ("PEG"). Pattern Energy has a portfolio of 12 wind power projects, with a total owned interest of 1,636 MW, in the United States, Canada and Chile that use proven, best-in-class technology. Pattern Energy's wind power projects generate stable long-term cash flows in attractive markets and provide a solid foundation for the continued growth of the business. For more information, visit www.patternenergy.com.
About Six Nations
Six Nations of the Grand River is comprised of the Mohawk, Seneca, Oneida, Cayuga, Onondaga and Tuscarora nations, representing the largest population of all First Nations in Canada. For more information please visitwww.sixnations.ca.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, including statements regarding the number of Ontario homes the facility has the capacity to produce clean power for, the ability of wind to reach 15 percent of the province's installed capacity by 2025, the ability for 1,269 MW to be installed in the province by 2018, the number of jobs the facility and other projects in Ontario will create, and the contributions such projects will make to jobs, property taxes, and schools.
These forward-looking statements represent the Company's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the documents filed with the SEC and applicable Canadian securities regulatory authorities, including the Company's annual report on Form 10-K. The risk factors and other factors noted therein could cause actual events or the Company's actual results to differ materially from those contained in any forward-looking statement.
Samsung Renewable Energy
- See more at: http://globenewswire.com/news-release/2015/01/12/696585/10115065/en/Sams...