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Vancouver, British Columbia.-based GreenWing Energy Management Ltd., a renewable energy developer, has closed on the sale of its ownership interests in the GreenWing Energy Development limited partnership to AltaGas Income Trust for $12.3 million in cash.

GreenWing and AltaGas formed the partnership in April 2006, in which GreenWing acted as manager and developer of numerous wind energy projects. The transaction involves the transfer to AltaGas of GreenWing's partnership ownership interests in wind energy development projects with a combined generating capacity of over 1,400 MW.

"The successful conclusion of our partnership with AltaGas has validated our business model to develop clean, renewable energy projects in the western U.S. and Canada," says Dan Allard, GreenWing CEO and founder.

SOURCE: GreenWing Energy Management Ltd.



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