Ventus Energy ships green power south
One our Fund III portfolio companies came to us for a $29 million project finance deal last summer, and with the partnership of VentureLink, Good Energies and Manulife (Manulife came later with a senior debt piece), the PEI-based windfarm — still in the 120 day test phase — is now producing green power for both the Canadian and U.S. markets.
Yesterday, Ventus announced that they had wheeled their first power sale to the New England Power Pool. Pricing was at the hourly spot price of the international power node at Keswick, New Brunswick. They also made a separate sale of the “renewable energy certificates” to other buyers in the NEPOOL.
Congrats to the Ventus team, board of directors and the LPs of public Ventus Energy West Cape Windpower LP. You proved the naysayers wrong, and showed your new public LPs that their confidence was well placed.