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RENEWABLES: Shear Wind welcomes Alberta’s removal of cap on wind power capacity
        (AlbertaIndex, October 4, Thursday) --- TSX-listed Shear Wind Inc has welcomed the announcement by Alberta Energy Minister Mel Knight to remove the 900MW ceiling on the windpower capacity in the province.
        Alberta Electric Supply Operator (AESO) had put the ceiling in place as a temporary measure to ensure reliability with the addition of wind power into the grid.

       
In announcing the ceiling removal, Mr Knight said the government supports the development of renewable and alternative energy sources and through this action, Alberta will continue to lead the nation in clean, sustainable wind-generated electricity.

Mike Magnus, President and CEO of Shear Wind, said: “Removal of the threshold is tremendous news for us. This move ensures that our three Alberta project interconnection applications before AESO will be processed, and subsequently, Shear Wind can complete development of their wind farm projects.

“Most importantly, this news has a substantial and direct bearing on the valuation of our 800 +MW project pipeline in Alberta. We have invested heavily in the past two years to ensure we are "ready-to-go" when opportunities materialize.

Shear Wind has potential wind farm development in Nova Scotia, New Brunswick, Saskatchewan and Alberta.

“We have moved confidently through the feasibility stage in all our projects, with two years of exceptional wind data and resource reports, and environmental impact assessments well on their way to completion. The impact the announcement has on our development timeline ensures validity to our strategic plan for wind development in four provinces in Canada,” said Mr Magnus.

Founded in 2005, Shear Wind is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable energy in Canada.

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