Atlantic Power to acquire 51% stake in US wind project
Atlantic Power has agreed to acquire 51% stake in $460m Canadian Hills Wind project located in the US state of Oklahoma.
Under the terms of the agreement, Atlantic Power has invested about $23m to acquire the majority stake in 298.45MW wind power project being developed by Apex Wind Energy.
The project will deploy REpower 2.05MW MM92 and Mitsubishi 2.4MW MWT102 wind turbines
The wind project has executed long-term power purchase agreements with investment grade offtakers for 250.45MW and is currently negotiating a similar PPA for the remaining 48MW.
Construction is expected to begin by April 2012 with commercial operations expected in November 2012.
Canadian Hills is the 100% owner of the Canadian Hills wind project and Atlantic Power will be the project's operator and asset manager.
Atlantic Power Corporation will have the right to invest 100% of the project equity or approximately $170m, subject to final due diligence, board approval and other conditions.
Related Insight
Suppliers Directory
Power Generation Biofuels & Biomass Fossil Fuel Geothermal Hydro Nuclear Solar Wind
Power Distribution Utilities Network Utilities Retail
Mining & Commodities Carbon Coal Minerals & Materials Nuclear Fuels
Wind Intelligence
“Competing For Share Of Global Upstream Oil & Gas Industry Spend In 2010-2011” is a new report published by ICD Research that analyzes how industry suppliers’ media spend, marketing and sales strategies & practices and business planning will be shaped in 2010 to 2011. In an uncertain economic climate this report gives you access to the media channel spending outlooks, media budgets, marketing agency selection criteria, business challenges and sales tactics of leading suppliers to the upstream oil and gas industry. The report also identifies oil and gas exploration and production companies and suppliers future growth, M&A and investment expectations. The research is based on an extensive survey of senior and C-level industry executives from our market leading panels. Buy online from $2000
Comments may be moderated for spam, obscenities or defamation.