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Canada: Bankruptcy sale wrapping up

Financially troubled Earthfirst Canada is continuing the liquidation of its wind power assets by selling the rights to a wind power project in the province of Alberta to Calgary's Canadian Hydro Developers for C$250,000.

The Windrise project, which has a minimum capacity of 99 MW, is located within a cluster of Canadian Hydro operations in southern Alberta, directly adjacent to the company's Soderglen wind project near Fort Macleod. "The geographic area is a consistently proven and excellent wind resource, so we fully intend to pursue developing this site," says the company's Kent Brown. Development of the site is dependent on a proposed 240 kV interconnection to the Alberta grid, which is expected to be in place in 2010 (page 48). Canadian Hydro is continuing to gather data and work through the permitting process.

EarthFirst has also agreed to sell the majority of its remaining development assets to Avro Wind Energy Inc for approximately C$860,000, including projects in British Columbia, Saskatchewan and Newfoundland and Labrador. Its largest project, the partly built 144 MW Dokie wind farm in British Columbia, is being sold separately (main story).

Earthfirst, based in Calgary, obtained court protection from its creditors in November and in June suspended trading of the company's shares on the Toronto Stock Exchange.

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