A Canadian company says it has secured $16 million in financing for a wind farm in Rolette County and four others in North Dakota.
Winnipeg-based Sequoia Energy Inc. is developing the 32,000-acre Border Winds site near the international border northeast of Rolla.
Company President Bob Spensley declined to say where the four other projects will be located. But he said the funding from the venture capital company Good Energies will help bring them to fruition.
“Border Winds is the most advanced,” Spensley said. “The others are below the radar screen, but we are working on them with people on the ground in four locations. The $16 million is significant. It will initiate and execute these local projects.”
David MacMillan, a managing director of Good Energies, said the investment in Sequoia Energy will enhance the wind portfolio of his firm.
Sequoia Energy, which has a wind farm in Manitoba and several other projects planned in the province, has a satellite office in Rolla.
Spensley said North Dakota is close to the company’s headquarters, and wind conditions in the state are similar to those in Manitoba and Saskatchewan.
“As such, the North Dakota market is a logical expansion for us,” he said.
Spensley said there is no guarantee that Border Winds will be built. But Rolla Economic Development Director George Youngerman said the $16 million investment “will allow them to take this to the next level.”
– Associated Press
2 November 2007
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