Atlantic Power to acquire stake in Oklahoma wind project

Atlantic Power Corp. has invested approximately $23 million of late-stage development capital to acquire 51 percent of Canadian Hills Wind LLC. Canadian Hills is currently the 100 percent owner of the 298 MW Canadian Hills Project, which is approximately 20 miles west of Oklahoma City.

Charlottesville, Va.-based Apex Wind Energy Holdings LLC, the developer of the wind project, has long-term power purchase agreements with investment-grade off-takers for 250.45 MW and is currently negotiating a similar PPA for the remaining 48 MW.

Construction is scheduled to begin by April, and commercial operation is expected in November.

Total project costs are expected to be approximately $460 million.

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