Capital Power announced on August 30, 2017 that development of New Frontier Wind is proceeding immediately with commercial operation expected to commence in December 2018.
The 99-megawatt facility is located on approximately 10,700 acres of privately-owned lands in McHenry County, North Dakota. New Frontier will use 29 Vestas V126-3.45 MW wind turbines.
Capital Power will operate New Frontier Wind under a 12-year fixed price contract with an investment grade U.S. financial institution covering 87% of the facility’s output. Under the contract, which was executed on August 29, Capital Power will swap the market revenue from a fixed volume of New Frontier Wind’s generation for a fixed price payment over a 12-year term. The agreement will secure long-term predictable revenues, allowing New Frontier Wind to secure renewable energy tax equity financing and provide Capital Power the opportunity to complete its second wind development project in the growing U.S. renewables market.
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Last reviewed: August 2017