- Published: 30 September 2009 30 September 2009
Canadian Hydro Developers, Inc. has entered into a definitive agreement to acquire the rights to a 4,400MW offshore wind prospect (Offshore Wind Prospect ) in Ontario from Wasatch Wind, Inc., a private US based renewable energy company.
When completed, this facility would be the largest offshore operation in the world. The agreement is subject to customary due diligence and the terms are confidential. The Offshore Wind Prospect is located approximately 5 to 30 kilometres offshore in one of the Great Lakes bordering Ontario, near available transmission interconnection. Canadian Hydro anticipates that the Offshore Wind Prospect will be built in stages, with the first 400 to 500MW to come online by the fourth quarter of 2014. Regulatory and environmental permits and approvals, site release from the Ontario Ministry of Natural Resources, and financing are required prior to proceeding with construction.