Beothuk Energy lands European backer for wind farm on west coast

The company that hopes to build a wind farm on the west coast of Newfoundland has landedCopenhagen Infrastructure Partners (CIP) as a financial backer.

"We see significant potential for offshore wind in Atlantic Canada," said Christina Grumstrup Srensen, senior partner at CIP.

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Beothuk Energy, which is based in Newfoundland, is the other half of the partnership.

"[CIP] are reallyworld leaders in offshore wind development and also have the financial capabilities to get our project over the finish line," said BeothukEnergyCEO Kirby Mercer.

'World-class wind'

The plan is to develop, own and operate several offshore wind farms in Atlantic Canada, Mercer said, with the 180-megawatt St. George's Bay project proposed to be the first site.

"First of all, we got world-class wind," said Mercer.

"And we have all the other things we're looking for for offshore wind. We have shallow water, we're close to transmission and we're close to the world's largest energy marketthe United States."

Mercer saidthe future of the energy sector is in offshore wind and Newfoundland has an "opportunity" to lead that charge.

We think we can work withNalcorWind and hydro work really well together.- Kirby Mercer

"There are so many synergies between offshore wind and the offshore oil and gas sector," he said.

"We have those skills sets here in Atlantic Canada and we have a lot of underutilized infrastructure, like ports, that are key to developing this space."

Wind,hydro as comrades, not competitors

Mercer believes the two different power sources can have a symbiotic relationship in Newfoundland and Labrador.

"We think we can work with Nalcor," he said.

"The beauty about offshore wind, if you look at the Newfoundland system, they have a lot of hydro. Wind and hydro work really well together."

When asked if it will be difficult for the offshore wind projects to proceed withoutNalcor's permission,Mercer insisted "that's not necessarily true."

"There is open access in the Newfoundland system in the grid, there is space in the Maritime Link," he said.

"We still think there is opportunity to wield some power in the province. And we've been having discussions with Nalcor and the Newfoundland government in regards to that."

Mercer says construction on the St. George's Bay project could start in 2019.