Algonquin buys wind

Algonquin Power & Utilities Corp. has purchased Kineticor Renewables Inc.

As part of the deal, Algonquin will acquire all of the assets related to two planned 10 MW wind energy projects in Saskatchewan. The costs to build the projects is expected to be between $55-$60 million (US$56.3-$61.4 million).

Saskatchewan Power selected the two projects for power purchase agreements through the SaskPower Green Options Partners Program in May 2010. Both PPAs will be assigned to Algonquin Power Co. The projects are expected to be complete in 2013.

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