Renewable Energy Developers Acquires Ontario Wind Project

Renewable Energy Developers (RED), a developer, owner and operator of renewable energy projects, entered into a binding agreement with Natenco to acquire the Ontario wind project known as Grey Highlands Clean Energy. The project is located in Grey County, Ontario, has a 20-year PPA with the Ontario Power Authority (OPA), and represents up to 18.5 MW of capacity. The parties have entered into a letter of intent, and the transaction will be subject to standard conditions, including receipt of any consents required from the OPA and other third parties, and settlement of definitive agreements. RED has actively participated in development of the project since January 2013 and will be providing additional development funding prior to closing.