CALGARY—TransAlta Renewables Inc. has announced its indirect majority-owned subsidiary, Kent Hills Wind LP, has secured financing that will contribute towards the construction of the third phase of a wind power project in New Brunswick.
Net proceeds of the financing will be used to fund a portion of the construction costs for the 17.25 MW Kent Hills expansion among other allocations, a recent media statement explained. The planned Kent Hills III expansion project, to be undertaken near Moncton, N.B., is expected to completed in time for commercial operation next October.
Kent Hills I and II began commercial operation in December 2008 and November 2010, respectively. Each phase of the wind project is 100 per cent contracted to New Brunswick Power from the date of commercial operation to November 2035.