Innagreen, the global renewable energy investment platform, and Cowessess First Nation-owned entity Awasis Nehiyawewini Energy Development Limited Partnership (ANEDLP), have announced their joint acquisition of the 200MW Bekevar wind energy project from Renewable Energy Systems Canada Inc. (RES). Financing from the Canada Infrastructure Bank and Norddeutsche Landesbank (NORD/LB) will ensure the project moves forward to construction.

The Canada Infrastructure Bank (CIB) is loaning $173 million towards the clean energy project, which will integrate more renewable power into the province’s electricity grid. NORD/LB is also providing $98 million in debt financing to the project.

Following the transaction, Innagreen will own 83 per cent of Bekevar and ANEDLP will own 17 per cent. RES will provide construction services, in conjunction with local sub-contractors, and operate and manage the asset.

The wind project will begin construction in May 2023 and is expected to reach commercial operation by the end of 2024.