ORTECH Power is unique among renewable energy firms in North America in that its principals originally entered the power business as developers. Canadian Renewable Energy Corporation (CREC) was founded in 1999 with Uwe Roeper, the President and Andrew Chant as Controller. CREC developed and designed what was later to become the 200 MW Wolfe Island Wind Farm located at the eastern of Lake Ontario near Kingston as well as constructed and operated a small hydro plant in north eastern Ontario. In addition, CREC developed numerous other wind and hydro sites throughout the province. In 2005, CREC was acquired by Canadian Hydro Developers, Inc. of Calgary primarily because of CREC’s attractive portfolio of projects under development.
The combination of practical experience and financial discipline of bringing renewable energy projects to fruition was carried over to ORTECH Power which together with ORTECH Environmental provides all aspects of renewable energy consulting. ORTECH has completed over 300 projects in the last 7 years. Here are some examples of our work:
RMSenergy: ORTECH was instrumental in all phases of the development, construction and financing of this 54 MW wind facility located in Pictou County, Nova Scotia. Services provided by ORTECH included wind resource analysis, turbine selection, negotiation of turbine supply and operations support agreements with General Electric, turbine layout and micro-siting, negotiation of equity and debt financing, budgeting and project management. The facility will enter into commercial operation in November 2009.
Erie Shores Wind Farm: This 99 MW wind farm located on the north shore of Lake Erie at Port Burwell, Ontario was acquired by Macquarie Power and Infrastructure Fund in 2007. ORTECH provided due diligence services to Macquarie including a review of wind data and an assessment of operational performance.
Horizon Rimouski: Horizon Legacy Energy engaged ORTECH as a technical advisor with respect to a proposed 100 MW wind project located in Rimouski, Quebec that was entered into the Hydro-Quebec 2007 RFP for 2000 MWs of wind power. The project involved the use of computational fluid dynamic modeling for wind in complex terrain and sophisticated financial modeling employing multiple indices, currencies and turbine configurations.
ORTECH Power has assisted in the arrangement and backing of debt and equity capital for multiple wind power projects to a total of over $400 million in recent years. The specific recent experience of officers of ORTECH includes:
Wolfe Island Wind Farm: Arranged $205 million in conditional equity and debt commitments for a 99 MW wind project near Kingston, Ontario.
Christian Island Wind Farm: Assisted in arranging $161 million in conditional equity and debt commitments for a proposed 75 MW wind project near Midland, Ontario.
Lakehead Wind Farm: Assisted in arranging $222 million in conditional equity and debt commitments for a proposed 100 MW wind project near Thunder Bay, Ontario.
Memramcook Wind Farm: Assisted in arranging $76 million in conditional and debt commitments for a proposed 35 MW wind project in New Brunswick.
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