Founded in the year 2000, Bay Wind's partner Renewable Energy Services Ltd.(RESL) is a wind
energy exploration and production company engaged in an aggressive five-year program of wind
power development. It is pioneering the next-generation regional energy supply, based on the
secure, sustainable supply of wind energy that Nova Scotia has available for development.
In January of 2004 the Board of Directors of RESL announced that it had reached agreement with
Larry Leblanc whereby Larry would assume the position of CEO of Renewable Energy Services Ltd.
Leblanc was formerly the senior executive in charge of East Coast exploration operations for
Encana Energy of Calgary. He made his presence felt at RESL immediately and by the summer of 2004
RESL had unveiled its first major exploration program.
By December 2005, RESL was successful in negotiating long term power purchase agreements with
Nova Scotia Power, with land leases for its exploration sites.
As of 2007, RESL has 8 exploration wind turbines built and generating 5.5 megawatts of
electricity bought by Nova Scotia Power, with more on the way.
Bay Wind is associated with RESL in two ways:
- Bay Wind and RESL have signed the Scotian WindFields Joint Venture Power Development and Operating
agreement in which both parties will participate in the exploration and development of wind energy
in Annapolis, Digby and Yarmouth Counties.
- This operating agreement is common to each of the Scotian Wind Fields. It was adapted from the
joint venture operating agreements and procedures typical of oilfield operations but has been
re-configured to reflect deployment of distributed power generation sourced from renewables.
This common development and operating agreement streamlines coordination during the early phases
of turbine deployment and in all later operational phases. It makes projects easily scalable and
promotes important economies of scale. It makes for easy asset valuation, increased aftermarket
liquidity and improved marketability for assets developed pursuant to the operating agreement.
In addition to the Operating Agreement, Bay Wind is a significant shareholder of RESL
treasury shares, and as such has an interest in all of RESL's business activities.
For more information on Scotia Wind Fields visit their website click on the link below:
RESL Web Site
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