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Danish investor joins Beothuk Energy to develop offshore wind farms

Beothuk EnergyInc. has partnered with Denmark-headquartered tojointly develop and own offshore wind farms supplying power to Atlantic Canada.

Beothuk is advancing projects in the provinces ofNewfoundland and Labrador, Nova Scotia, New Brunswick and Prince Edward Islandthat could total more than 1,000 MW when completed, according to Sept. 28 newsrelease.

The first project covered under this strategic partnershipis the 180-MW St. George's Bay wind farm in Newfoundland. Under the agreement,Copenhagen Infrastructure Partners will fund the final development to secure apower purchase agreement for the project.

Beothuk, which has obtained approvals for the St. George'sBay project, said Copenhagen Infrastructure Partners will also subsequentlyinvest all of the capital required to construct it.

Jacob Capital Management Inc. serves as the exclusivefinancial adviser to Beothuk Energy and its projects. Norton Rose Fulbright isacting as Beothuk's legal counsel.