Quantum Fuel to Sell 10-Megawatt Trout Creek Wind Farm in Canada
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Quantum Fuel Systems Technologies Worldwide Inc., the Lake Forest, California-based developer of alternative-fuel vehicles and energy-storage systems, agreed to sell its 10-megawatt Trout Creek wind farm in Canada.
The buyer will pay about C$971,000 ($936,000) in cash and assume approximately C$237,000 in liabilities for 75 percent of the project in the first phase of the deal that’s expected to close within six weeks, according to a statement today. The buyer, who wasn’t identified, will pay C$1.1 million for the remainder within 18 to 24 months after Trout Creek begins commercial operations in southeast Ontario.