Kevin Martin | Calgary Sun | Aug 09, 2022 | calgarysun.com
Four investors in controversial proposed wind farms in the Cypress Hills area are suing the company that bought them out for not following through on the projects, costing them $10.75 million in unpaid share sales, a lawsuit claims.
The claim, filed in Calgary Court of Queen’s Bench by northern Ontario alternative energy entrepreneur David Boileau and three others, says NaturEner Energy Canada Inc.’s failure to proceed with the projects violated their share purchase agreements.
The four agreed to sell their interests in West Windeau Inc. in August 2007, on condition two massive wind turbine operations proceed, the claim states.
The proposed projects – Wild Rose I Wind Farm and Wild Rose II Wind Farm – were each to have approximate capacities of 200 megawatts and be built in the Cypress Hills area southeast of Medicine Hat.
“In or about December 2021, a third party acquired from NaturEner Canada all of the issued and outstanding shares of (subsidiary companies), which include the WR1 and WR2 projects,” the statement of claim says.
Around the same time, the Alberta Utilities Commission “noted NaturEner Canada was in non-compliance with its directions to complete certain steps and (among other things) move the WR1 project forward,” it says.
“NaturEner Canada has effectively abandoned all aspects of the WR1 project and sold all of its shares in the WR2 project to a third party. In doing so, the plaintiffs state that NaturEner Canada and NaturEner WR1 Inc. have failed to materially comply with its covenant contained in . . . the (share purchase agreement) and has breached the terms of same.”
In 2005, West Windeau announced plans to build dozens of wind turbines on provincially owned and private rangeland along the northwest edge of Cypress Hills Provincial Park, raising concerns from some environmentalists about the location of the windmills.
At the time, Boileau said the project was in the “very early” stages but he was committed to addressing concerns.
A statement of defence disputing the unproven allegation in the claim has not been filed.
URL to article: https://www.wind-watch.org/news/2022/08/11/lawsuit-filed-over-companys-alleged-failure-to-develop-controversial-wind-farm-projects-in-southern-alberta/