in News Departments > FYI
print the content item

Gaz Metro says it has completed an equity offering, by way of private placement, of 5 million new units from its treasury at a price of $15.00 per unit to Gmi (which holds an economic interest of approximately 71% in Gas Metro) and Valener Inc, based on their respective share of units outstanding, for aggregate gross proceeds of $75 million.

The proceeds of the offering will be used to fund a portion of the development of Green Mountain Power Corp.'s Kingdom Community Wind project - a 63 MW wind farm being built in Vermont - and for general corporate purposes.

GMi financed its subscription of new units by way of issuance of common shares to Noverco Inc. for gross proceeds of approximately $53 million.



Hse SandyHook
Latest Top Stories

Does Income Determine Who Benefits The Most From Smart Grids?

According to the Smart Grid Consumer Collaborative, low-income consumers may be at a disadvantage.


Accenture And Siemens Form Smart Grid Joint Venture

OMNETRIC Group will help utilities improve energy efficiency, grid operations and reliability.


Maine Public Utilities Commission: Smart Meters Are Safe

According to a report by the commission, there is no direct link between smart meters and health issues.


Report: Global Solar Deployment Topped Wind In 2013

Research firm Clean Edge finds that solar surpassed wind for the first time since it began tracking international markets in 2000.


HEM Is Key For Utilities To Maintain A Competitive Edge

According to a report by Lux Research, automated meters, electricity rates and renewable energy are crucial to the success of home energy management.

S&C Electric_id176
edf_id