SkyPower agrees turbine deal for projects in Canada and US

Toronto's SkyPower Corporation has agreed to buy 200 GE Energy 1.5 MW turbines for approximately $400 million. The turbines are scheduled for delivery in 2009 and slated for SkyPower projects in Canada and the US. SkyPower CEO Kerry Adler says the deal was a way to ensure supply in a competitive global market at a time when turbines are in high demand. "The soaring interest in wind power has placed a tremendous demand on wind turbine suppliers worldwide," he says. "This agreement with GE puts us in an excellent position to meet our project requirements over the next several years." SkyPower, an affiliate of financial services giant Lehman Brothers, has about 7000 MW of wind and solar projects in development in 12 Canadian provinces and US states and another 1000 MW under development in India.