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Ontario Teachers’-owned BluEarth buys Wyoming wind assets

A U.S. affiliate of BluEarth Renewables LP has bought a 795-megawatt wind development portfolio located in Wyoming.

No financial terms were disclosed for the deal, which saw BluEarth acquire the assets from Boulder, Colorado-based wind developer Intermountain Wind LLC. BluEarth said it will advance development of the portfolio towards commercial operation.

Earlier this year, the company acquired a majority interest in two operating wind facilities in Minnesota.

Based in Calgary, BluEarth builds, owns and operates wind, hydro and solar facilities across North America. It has been backed by Ontario Teachers’ Pension Plan since 2014. Ontario Teachers’ acquired majority ownership in 2015.

PRESS RELEASE

BluEarth Acquires 795 MW Wind Development Portfolio in Wyoming

July 23, 2018

CALGARY, Alberta, July 23, 2018 (GLOBE NEWSWIRE) — BluEarth Renewables LP (“BluEarth” or “the Company”) is pleased to announce its U.S. affiliate has completed the acquisition of a 795 MW wind development portfolio located in Wyoming from Intermountain Wind LLC (“Intermountain”), a Colorado-based wind developer. BluEarth will advance the development of the portfolio towards commercial operation, and Paul Martin, President of Intermountain, will remain highly-involved through a development services agreement. Highlights of this acquisition include large-scale, secured land rights, a strong wind resource and the ability to develop the portfolio through a phased approach.

“This acquisition provides BluEarth with a significant growth opportunity in the United States that builds on our team’s development expertise,” said Grant Arnold, President and Chief Executive Officer. “We are pleased to continue our momentum in the United States following the recent acquisition of 80% interests in two operating wind facilities in Minnesota. BluEarth is excited to partner with Paul, an experienced local developer, as we work to bring this significant opportunity through development, construction and into operation over the next several years.”

This acquisition complements BluEarth’s existing development portfolio which includes over 400 MW of advanced development projects and a pipeline of early-stage opportunities.

About BluEarth Renewables

BluEarth Renewables brings together extraordinary people with the power to change the future™ by delivering renewable energy to the power grid every day. We are a leading, Canadian-based power producer that develops, builds, owns and operates wind, hydro and solar facilities across North America. Our portfolio includes 325 MW net (565 MW gross) of nameplate capacity in operation and under construction and over 1,000 MW under development. More information about BluEarth is available on our website at www.bluearth.ca or follow us on twitter @BErenewables.

For further information: Dorreen Miller, Director, Communications, BluEarth Renewables: (587) 324-4238