Algonquin Power & Utilities Corp. (APUC) has announced the closing of the acquisition of the remaining 40% of the 400MW wind power portfolio in the USA from Gamesa Wind US for total consideration of approximately US$ 115 million.
Prior to today, APUC owned a 60% controlling interest in the projects which were originally acquired through a newly formed partnership whose original members included APCo, Gamesa and certain tax equity investors. The 400MW wind portfolio consists of three facilities, Minonk (200MW), Senate (150MW), and Sandy Ridge (50MW) located in the states of Illinois, Texas, and Pennsylvania, respectively. Gamesa will continue to provide operations, warranty and maintenance services for the wind turbines and balance of plant facilities under 20 year contracts. Substantially all of the energy from the Projects is sold under fixed price power sales contracts.
