wpd succeeds in entering Canadian market
The internationally operating wind park developer wpd AG has succeeded in entering the growing market in Canada. The company has taken over shares in the Canadian project developer Independent Power Corp. (IPC) with the seat in Mississauga, Ontario. A sale and acquisition agreement for initially 25 % of the company shares was signed on July 5, 2007, in Mississauga. In addition, an option for the sale and acquisition of further 25 % of the shares was agreed upon. The main focus of IPC’s business activities lies in the planning and realisation of wind park projects in the province of Ontario.
“We regard Canada and especially Ontario as a true future market with high potential,” Dr. Hartmut Brösamle, member of the Board of wpd AG, emphasises. With the Standard Offer Program (SOP), the Ontario Provincial Government has implemented a highly efficient feed-in law, modelled on the German EEG. In connection with the outstanding wind ratios, this constitutes an excellent basis for the realisation of our ambitious development goals,” Dr. Brösamle says.
The partnership between IPC and wpd provides for a close cooperation in the fields of project development, financing and management. “Our ambition for an active transfer of know how is – among other things – emphasized by the fact, that – in person of our seasoned employee Michael Boehm – we will become part of the management besides the present managing director, John Andrews,” Dr. Brösamle explains the approach to the long-term projected, strategic partnership.
IPC-President John Andrews sees his company well positioned for future tasks by the cooperation. “wpd AG’s long standing international experience will be an essential contribution, so that IPC will become a domineering enterprise in the wind energy market in Ontario in the coming years.”