AltaGas' 800 MW joint portfolio

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The Calgary-based AltaGas Income Trust is pairing with Vancouver's Greenwing Energy Management Ltd to create a new company to develop wind power projects in western Canada and the United States. The partnership is starting with ten proposed wind projects with a total capacity of about 800 MW and already has deals with landowners for about 28,300 hectares and is seeking more land in the project areas. Greenwing, a partner in the recently completed 99 MW St. Leon project in Manitoba, will manage the new limited partnership, while AltaGas has the right to finance up to 100% of the debt and equity of the projects. "Our power and project development expertise combined with AltaGas's solid track record and financial strength will make the combination a competitive force," says Greenwing president Dan Allard. AltaGas is involved in natural gas processing and transmission, power generation and energy retailing. It made its first foray into the wind business in January, when it agreed with Aeolis Wind Power Corporation to develop a 120 MW wind project at Bear Mountain in British Columbia. That project was bid into BC Hydro's 2006 open call for power, which closed April 7 (page 34).

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