Sky Harvest sells Saskatchewan wind power assets

Sky Harvest Energy Corp. sold its interest in assets relating to its Sky Harvest Project located in southwestern Saskatchewan to a Canadian wind power development company, including its leasehold interests in about 15,000 acres of land, accumulated wind data, environmental assessment studies and its meteorological tower.

In consideration of Sky Harvest’s sale of the assets, the purchaser has agreed to pay a purchase price in three installments comprised of a fixed payment payable upon execution of a power purchase agreement, a first success fee based upon the number of megawatts contracted under the agreement and payable upon financial close, and a second success fee also based on contracted megawatts and payable upon the commencement of commercial operations.

Sky Harvest will remain involved in the project in a development services capacity as it aids the purchaser in liaising with landowners and communities within Saskatchewan, as well as revising lease agreements. Sky Harvest also retains its interests in the Keewatin and Matador sites in southwest Saskatchewan, which it will continue to develop.

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