President's Report - 2015 - dated 29th January 2015.
Once again I would like to take this opportunity to introduce myself. For those of you who are
not familiar with me, my name is Douglas Miller and I am the President of The Bay Wind Field.
I have been a member of the board since it began in 2001 and have been President and Vice
President in the past.
The Bay Wind Field is once again helping Scotian Wind Fields Inc. (SWFI) qualify for COMFIT
projects by initiating a Bay Wind Field Inc. offering. Twenty-Five (25) Bay Wind Shareholders
in areas where Scotian Wind is installing turbines qualifies Scotian Wind in the COMFIT
(Community Feed in Tariff).
Our five (5) year loan to Lewis Mouldings was repaid in December 2013 and was an extremely
successful and lucrative endeavor. Lewis Mouldings is to be congratulated for its prompt,
professional and friendly handling of this account. Bay Wind has also recently made a five (5)
year loan to Scotian Wind Fields Inc. The loan is repayable after five (5) years but may be
converted into SWFI shares at a preset rate. The Bay has just received the first year's interest on
SWFI has created a company called Scotian Wind Inc. that will handle the COMFIT renewable
energy projects. Scotian Wind is presently involved in many projects in Nova Scotia and will
have fourteen (14) 1.99MW Vestas V200 Wind turbines up and running by this summer. This
includes the 3 installed in the spring of 2014 and the 11 presently being installed around the
province. All but one are approved COMFIT projects. The first 3 turbines of this years group
have been installed on Martock Ridge and have begun producing power into the grid as of last
RESL's project at Point Tupper is now producing electrical energy for Nova Scotia. It is also
involved in other projects in Nova Scotia and Western Canada.
RESL is now in late stage development of itís McLauglin Wind Farm located in the Municipality
District of Pincher Creek, Alberta. The project has been in RESLís portfolio of development
assets since 2008.
The project has interconnection to the grid for a capacity of 75MW and is developing the site in
two phases of 60MW and 15MW respectively.
In a recent press release, Scotian Winfield's Inc. intimated that it may start to distribute
dividends as early as this year. This is very good news for the Bay, however, due to the fact
that how much or when the Bay may receive these dividends, we cannot say at this point,
when our shareholders will reap the rewards.
In closing, I would like you to know that The Bay Wind Field Inc. has been able to complete
2014's business at an unbelievable low cost. Most of the business was paid for by business
we did with customers and associates. One of these things was the Estate sale of shares
that we did for the Estate of a deceased shareholder that was paid for by the Estate.
The Bay Wind Field Inc.
Message from the President Jan 2015
(PDF Format - 96K)
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