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Ventus going public with wind farm project

Last Updated: Thursday, November 16, 2006 | 8:20 AM AT

CBC News

Ventus Energy is hoping the public will buy into its plans to build a wind farm in western P.E.I. It is offering shares in a new limited partnership to raise $55 million to build the 99-megawatt farm.

Initial shares in Ventus Energy West Cape Windpower Limited Partnership are being offered at $10.

The partnership is being created to invest in West Cape Wind Energy Inc., which plans to build 11 wind turbines, which will operate for 120 days as a test.

The company said it plans to build a total of 44 wind turbines in the West Cape area.

The company has already raised $29 million in a private placement towards the project and another near North Cape. Construction has already begun on that project. Total cost for the two projects is expected to be close to $250 million.

This story is now closed to commenting.

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