Renewable Energy Developers Inc., a developer, owner and operator of renewable energy projects, announced on 15 July 2013 it has entered into a binding agreement with Natenco, LLC to acquire the Ontario wind project known as Grey Highlands Clean Energy.

The project is located in Grey County, Ontario, represents up to 18.5 MW of capacity and has a 20-year power purchase agreement with the Ontario Power Authority.

The transaction will be subject to standard conditions, including receipt of any consents required from the Ontario Power Authority and other third parties.

Renewable Energy Developers Inc has participated in development of the project since January 2013 and will be providing additional development funding. The Company also expects to complete the acquisition and build and own the project with a financial partner.

Renewable Energy Developers Inc. actively participated in development of the project since January 2013 and will be providing additional development funding prior to closing.  Renewable Energy Developers Inc. expects to complete the acquisition and build and own the project with a financial partner.

Capstone Infrastructure Corporation and Renewable Energy Developers Inc.(ReD) have agreed that Capstone will acquire all the outstanding shares of ReD by way of a share exchange.

Source: Renewable Energy Developers Inc