Skypower Global Corp.
Bankruptcy Liquidation
CIM Group Inc., Elemental Energy, Emera, Invenergy, Competitive Power Ventures, Inc., Borea Construction
SkyPower Global Corp. (Skypower) entered into Canadian Companies’ Creditors Arrangement Act (“CCAA”) protection on August 12, 2009. A sale process in respect
of the business and assets of SkyPower was approved by Order of the Court on August 25, 2009.
SkyPower possessed an experienced development team with a portfolio of 36 MW of operating wind and solar assets, over 1.2 GW of near-term wind and solar
projects, and over 4.0 GW of early stage wind and solar development projects.
These portfolios were sold to top-tier strategic and financial buyers in 6 separate deals:
- 523 MW First Light Solar Park and Solar Development sold to CIM Group Inc. (November 2009)
- 27 MW Fermeuse Operating Wind Farm to Elemental Energy (December 2009)
- 30 MW Digby Wind Projects & 20 GE 1.5 MW SLE Turbines sold to Emera (December 2009)
- 134 GE 1.5 MW XLE Wind Turbines sold to Invenergy (January 2010)
- Wind Power Development Pipeline sold to Competitive Power Ventures, Inc. (February 2010)
- Non-Turbine Equipment Definitive Agreement with Borea Construction (March 2010)
Marathon Capital was appointed sole financial advisor by the Court in respect of the auction of SkyPower’s Development Business and 230.5 MW of GE Wind
Turbine Generator Assets (134 1.5 MW XLEs and 20 1.5 MW SLEs).