The ownership of two Okanagan wind farms will soon change hands.
Calgary-based Canadian Power Holdings, a subsidiary of Hong Kong-based CK Group, has agreed to buy Okanagan Wind, which currently operates wind turbines at Pennask Summit, located off the Okanagan Connector, and Sihish Creek, about 30 kilometres west of Summerland.
The project is located on Crown land and consists of 10 turbines across the two locations. The current lease on the land extends to 2047.
“We are excited to be acquiring CK Group’s first renewable energy project in Canada, and look forward to finding other such opportunities for the group as we work to expand our footprint,” said Derek Goodmanson, CEO of Canadian Power.
The new ownership group plans to honour previous agreements with local First Nations, including providing access to job opportunities, annual benefit payments to the community, funds to support scholarships and continuing roles such as environmental monitoring of the projects.
The CK Group owns several renewable energy projects across the world and through Canadian Power, it owns a number of other projects in Canada.
The transaction is expected to close in mid-2021.
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