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Greengate Power Corporation
| Category
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Business |
| Status
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Nomination |
| Year
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2009 |
| Nominee
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Greengate Power Corporation |
| Project
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Alberta Wind Energy Projects |
| Summary Of Activity
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Greengate Power is currently developing over 1 590MW of wind power on approximately 200 000 acres of private land in Alberta and Ontario. It is focused on the development of quality wind projects in Alberta and Ontario in areas with available transmission capacity. Many of Alberta and Ontario's best wind resources are located in areas that are transmission constrained and require significant transmission system upgrades to exploit their potential resources. However, the company's portfolio of projects under development are in areas with strong wind resources, are geographically diverse and are in transmission rich areas of Alberta and Ontario.
Greengate Power is a privately held wind power developer based in Calgary, Alberta. Its experienced management team possess over forty years of combined energy industry experience and has a proven track record of entrepreneurial success.
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| Barriers/Challenges To Success
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Entering an industry where there were a lot of large, incumbent players that had been involved in the industry in Alberta for the last 5 -10 years. The primary challenges facing wind power companies is the ability to connect into the transmission system. Our unique land base in areas with a high quality wind resource, strong landowner support, and available transmission capacity, makes Greengate a unique player in the wind power game. As a result, Greengate can execute its projects quickly, without the requirement for massive investment in new transmission infrastructure and helps us address the issue of climate change in the short term.
Another challenge we face is that we are a relatively small company so it's harder to build credibility with our landowners, industry and regulators. Over the last couple years through the results we have been able to achieve, we have been successful in navigating the complex regulatory process involved in developing a wind power projects in Alberta. We have been able to recruit an extremely strong team of individuals who have a lot of experience and knowledge developing wind power projects. Members of our team have been involved in building 7% of all power plants currently operating in Alberta 1/3 of all wind power projects currently operating in Alberta. Going forward our primary challenge is financing the projects. The financing market as we are all aware has changed recently, however, Dan Balaban - President and CEO of Greengate, believes good projects will access financing particularly renewable energy projects are in a strong position. Renewable energy is currently a hot topic as economic growth, both locally and worldwide, has dramatically increased demand for power. This increase, combined with the growing concern over climate change and the escalating price of oil, has our society looking for cleaner and sustainable alternatives to fossil fuel based power generation. |
| Contact
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Mr. Dan Balaban
President & CEO
Greengate Power Corporation
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Suite 710, 407 - 2nd Street S.W.
Calgary, AB T2P 2Y3
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| Telephone |
403-514-0556 ext. 201 |
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Contact through Email
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http://www.greengatepower.com
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