Sharp Hills Wind Farm wins renewable energy purchase contract

CALGARY, Dec. 15, 2017 /CNW/ - Alberta Wind Energy Corporation ("AWEC") is pleased to announce that the Sharp Hills Wind Farm (the "Project") has been awarded a 20 year Renewable Energy Support Agreement ("RESA") from the Government of Alberta through the Renewable Energy Program ("REP") Round 1.

The 248 Mega-watt Project is located near the town of Oyen, in east-central Alberta.  The Project was originally developed by AWEC between 2011 and 2015, at which point it was sold to EDP Renewables Canada Ltd.  AWEC retains an interest in the Sharp Hills Project.

"We would like to congratulate the EDP Renewables team for all their hard work in achieving this significant milestone for the Project," says Marc Stachiw, President of AWEC. "Contract prices of the procurement process, some of the lowest seen globally, are a strong testament to the competitiveness of wind energy."

Terms of the renewable energy purchase contract require that winning bidder's projects be built and on-line before the end of 2019. 

"The Sharp Hills Project has the potential to significantly boost the local economy through both construction and long term job opportunities, as well as provide significant tax revenue to the local municipality", says Stewart Duncan, CEO of AWEC.  "AWEC looks forward to continuing to work with EDP Renewables in the development of the Project."

About Alberta Wind Energy Corporation

Alberta Wind Energy Corporation ("AWEC"), a local Calgary based developer, was formed in 2003 to develop commercial scale wind farm projects.  The Company is currently focused on several sites, taking a staged approach to power generation and shareholder value creation.  AWEC has partnered with large international renewable energy companies on numerous projects at various stages of development. Alberta Wind Energy Corporation is active in supporting the wind and solar industries across Canada.

SOURCE Alberta Wind Energy Corporation