1 3.0 COMMERCIAL TRANSACTION 2 3 The transaction between NSPI and 324 NSL represents an asset purchase and payment for 4 development costs. 324 NSL is a wholly owned subsidiary of Emera Inc. NSPI acquired all of 5 the Project assets directly from 324 NSL with the exception of the PPA and PPA performance 6 security. These items remain with 324 NSL. NSPI will reimburse 324 NSL for various 7 development costs associated with the Project. 8 9 The detailed Asset Purchase Agreement between NSPI and 324 NSL is provided in Appendix 4. 10 The following assets are included in the Agreement: 11 12 Engineering and Wind Studies for the Site 13 Original Engineering Design Documents 14 Environmental Approval Documents 15 Meteorological towers and Transport Canada Approvals for the meteorological 16 towers 17 General Electric Turbine Supply Agreement 18 Land Leases (Turbine and Non-Turbine) 19 Emera Utility Services Engineering, Procurement and Construction (EPC) 20 Contract 21 ecoENERGY Documents and Agreement 22 Generation Interconnection Agreement 23 Magna Transformer Purchase Agreement 24 Environmental Protection Plan 25 Transmission Line Easements Options 26 27 An important aspect of the transaction between NSPI and 324 NSL was for NSPI to maintain
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1 3.0 COMMERCIAL TRANSACTION 2 3 The transaction between NSPI and 324 NSL represents an asset purchase and payment for 4 development costs. 324 NSL is a wholly owned subsidiary of Emera Inc. NSPI acquired all of 5 the Project assets direct...
AI summary NSPI acquired Project assets from its affiliate 324 NSL, retaining the right to license the assets back for operation and maintenance. The transaction allows NSPI flexibility in meeting RES compliance while preserving project benefits for customers. The structure supports achieving compliance through other projects if needed.