02/25/2011

USA - Niagara Region Wind Corporation awarded contract from Ontario Government for its 230 MW Wind Energy Project

Niagara Region Wind Corporation (NRWC) is pleased to announce that it has been awarded a Feed-In-Tariff contract from the Ontario Power Authority (OPA) for its proposed Niagara Region Wind Power Project

The 230 MW wind farm project represents an estimated capital expenditure of $600 million and once completed, will be one of the largest wind power projects across Canada. The project area has a strong wind resource, which makes it a prime location for a wind power project.

"Niagara Region Wind Corporation is thrilled to bring this renewable energy project to the Niagara Region and Ontario. This project represents a significant investment - providing significant job opportunities locally, the potential for the development of localized expertise, as well as the potential for future academic partnership opportunities. We look very much forward to working together with the local community as we move forward." states Mervin Croghan, NRWC's Chairman and Chief Executive Officer.

NRWC is pursuing regulatory approvals, including completion of Ontario's Renewable Energy Approvals (REA) Process. Construction of the project will begin after these approvals are complete and is estimated to take approximately two years.

"Niagara Region stands to benefit from this project. This represents an opportunity for the Region to further define itself as a renewable energy hub and will result in significant economic benefits for the Region as a whole," stated Niagara Economic Development Corporation's Vice President Market & Sector Development, Valerie Kuhns.

Niagara Region Wind Corporation (NRWC) is focused on the development of renewable energy projects in Canada. It is an Ontario-based company committed to investing in local communities. NRWC is a partnership between Renewable Energy Business Ltd. and Daniels Property Acquisition Corporation.

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