Shear Wind Celebrates Opening of Glen Dhu Wind Farm
10 5월 2011 - 12:43AM
PR Newswire (Canada)
HALIFAX AND CALGARY, May 9 /CNW/ -- To view the Social Media
Release, click here:
http://smr.newswire.ca/en/shear-wind-inc/shear-wind-celebrates-glen-dhu-wind-farm-opening
HALIFAX AND CALGARY, May 9 /CNW/ - Shear Wind Inc. ("Shear Wind")
(TSX VENTURE: SWX) today celebrated the official opening of its
62.1-Megawatt Glen Dhu wind farm ("Glen Dhu Wind Farm") with over
one hundred people on its site located between Pictou and
Antigonish counties in Nova Scotia. In attendance were government
officials including the premier of Nova Scotia, the Minister of
Energy, municipal leaders, shareholders, industry partners and
community members. "This is a great day for Shear Wind. Not
only are we marking the official opening of Glen Dhu Phase 1 - our
Company's first major wind farm at 62.1MW; but we're celebrating
this community's contribution to clean, renewable energy," said
Mike Magnus, President & CEO, Shear Wind. "We couldn't
have come this far without the community support, the Government's
vision, and the participation and hard work from our project
partners and employees here at Glen Dhu." The Glen Dhu Wind Farm
allows the province to meet its 2015 renewable energy targets. The
wind energy produced by the Glen Dhu Wind Farm is expected to
represent 35 per cent of Nova Scotia Power's 2010 Renewable Energy
Standard (RES) target and is anticipated to produce energy to power
18,000 homes. "In 2002, we had two wind turbines in Nova Scotia.
Today there are more than 160 commercial turbines," said Premier
Dexter. "Nova Scotia has some of the most ambitious renewable
energy targets in the world. We are achieving those targets through
the hard work, ingenuity and innovation of organizations such as
Shear Wind. It's an exciting time to be part of the energy business
in Nova Scotia." Genera Avante Holdings Canada Inc., a subsidiary
of Inveravante Inversiones Universales, S.L., in Spain is Shear
Wind's largest shareholder. Inveravante has ownership of wind
facilities in Europe and parts of South America. Shear Wind
estimates that the Glen Dhu Wind Farm has resulted in a direct and
indirect investment of approximately $40 million in Nova Scotia,
$22 million of which has been invested directly in Pictou and
Antigonish counties and $2 million of which was generated through
worker spending. "At its peak, 120 workers were employed producing
140,000 direct full-time equivalent hours," said Ian Tillard, Chief
Operating Officer. "I'm proud to say that 83 per cent of the work
was done by Nova Scotians." Shear Wind has mapped out a three-fold
expansion for Glen Dhu in Phases two and three that will harness
the steady Northumberland Strait winds and produce more wind
energy. Shear Wind estimates that a phase two and phase three
expansion of the Glen Dhu site could realize an additional 170
Megawatts. The company also has properties for wind farm
development in New Brunswick and Alberta. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities of Shear Wind in any jurisdiction.
About Shear Wind Founded in 2005, Shear Wind is headquartered in
Halifax, Nova Scotia and is engaged in the exploration and
development of renewable wind energy properties in Canada. Shear
Wind is focused on building a strong company based on a secure and
sustainable supply of clean wind energy. Shear Wind is committed to
building shareholder value governed by environmental stewardship.
Inveravante Inversiones Universales, S.L., an international
corporation based in Spain, indirectly owns 62% of Shear Wind on a
fully-diluted basis and 49% of Glen Dhu Wind Energy Limited
Partnership through Genera Avante Holdings Canada Inc., following
its investment in Shear Wind in November 2009. Additional
information on the various projects may be viewed on Shear Wind's
website: www.shearwind.com. Forward-Looking Statements /
Information This news release may include certain forward-looking
information, including statements relating to business and
operating strategies, plans and prospects, using words including
"anticipate", "believe", "could", "expect", "intend", "may",
"plan", "potential", "project", "seek", "should", "will", "would"
and similar expressions, which are intended to identify a number of
these forward-looking statements. Forward-looking information
reflects current views with respect to current events and is not a
guarantee of future performance and is subject to risks,
uncertainties and assumptions. Actual results may differ materially
from information contained in the forward-looking information as a
result of a number of material factors, including failure to secure
adequate financing to develop projects of Shear Wind. Shear Wind
undertakes no obligation to publicly update or revise any
forward-looking information contained in this news release, except
as may be required by applicable laws, rules and regulations.
Readers are urged to consider these factors carefully in evaluating
any forward-looking information. Shear Wind Inc. trades on the TSX
Venture Exchange under the symbol "SWX". Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release /NOTE
TO EDITORS: Media Assets accompanying this story are available as
follows: Photo:
http://smr.newswire.ca/media/articles/1270/shearwind-01.jpg
Photo:
http://smr.newswire.ca/media/articles/1270/shearwind-02.jpg Video:
http://www.newswire.ca/en/releases/mmnr/smr/Shear_Wind_Event_Video.flv
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Speakers will be available to answer media questions today from
11:05 AM AST after the official proceedings. To arrange an
interview please contact: /p p bNadia Hinds/bbr/ 902 425-1860 x
240br/ Mobile: (902) 237-6017br/ a
href="mailto:nhinds@mtlpr.ca"nhinds@mtlpr.ca/a /p
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