SkyPower’s Nova Scotia wind park back on track?

Toronto, Canada’s SkyPower and Nova Scotia, Canada’s Scotian Windfileds said today they were granted environmental approval for 25.5 megawatts of wind turbine capacity, slated for a wind power project in Digby, Nova Scotia.

But the project hasn't had an easy time getting approved, despite being met with 88 percent support from the surrounding community.

It's unclear whether the delay has anything to do with SkyPower preparing to sell itself.

Upon completion, the Digby project is expected to be one of the area’s largest wind parks. SkyPower develops renewable energy projects in Canada, the United States, India and Panama.

Scotian WindFields is a community-based company that provides leadership and investment opportunities for local Nova Scotians to invest in developing renewable energy projects (see Push for Nova Scotia to go to all-renewable power).

The duo had originally filed a request for approval of a 30 MW project, but three of the proposed turbines (4.5 MW) have to be relocated due to wildlife, sound and setback concerns. The companies said they plan to submit plans in the next few weeks for review related to relocation of the turbines.

SkyPower and Scotian Windfields said they plan to work with all involved parties to finalize the project’s schedule and start construction at an unspecified date.

Earlier this month, SkyPower sought protection from creditors through a restructuring, related to a future sale of the company.

The company said it has committed US$15 million to transition the business through a quick, efficient and competitive sales process, with potential bidders already expressing interest in purchasing the company’s assets.

The company's troubles mirror that of Lehman Brothers, which took a significant equity stake in SkyPower in 2007 (see Lehman Brothers takes stake in Canada's SkyPower). 

Last September, SkyPower’s major shareholder, Lehman Brothers, filed for bankruptcy protection, marking the largest such filing in U.S. history, with Lehman holding over $600 billion in assets.