in News Departments > Projects & Contracts
print the content item

Algonquin Power & Utilities Corp. (APUC) has entered into an agreement to acquire the remaining 40% of a 400 MW wind power portfolio in the U.S. from Gamesa Wind US LLC for total consideration of approximately $117 million.

The 400 MW wind portfolio consists of three facilities: the 200 MW Minonk wind farm in Illinois, 150 MW Senate wind farm in Texas and 50 MW Sandy Ridge wind farm in Pennsylvania. APUC currently holds a 60% controlling interest in the projects, which were originally acquired through a newly formed partnership whose original members included Algonquin, Gamesa and certain tax equity investors.

APUC has been the majority owner and manager of the projects since commercial operation was achieved in 2012; therefore, the company notes no additional ongoing management or administrative costs are expected to be incurred. Gamesa will continue to provide operations, warranty and maintenance services for the wind turbines and balance-of-plant facilities under 20-year contracts.

“We have been pleased with the performance of these assets over the past year, and the acquisition of the balance of these three wind generating facilities adds additional accretive, low-risk earnings and cashflow to APUC,” comments APUC CEO Ian Robertson.

The acquisition is expected to close in early 2014 following regulatory approvals.




Trachte Inc._id1770
Latest Top Stories

Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.

Navigant_id1983
Renewable NRG_id1934