Algonquin Power & Utilities Corp. (APUC) has announced that a subsidiary of its power generation business Algonquin Power Co. (APCo) has entered an agreement to acquire the remaining 40 percent of a 400 MW wind power portfolio in the U.S. from Gamesa Wind US, LLC. The total price for the acquisition is around $117 million.
The portfolio consists of three wind farms: the 200-MW Minonk in Illinois, the 150-MW Senate in Texas and 50-MW Sandy Ridge in Pennsylvania.
APUC currently holds a 60 percent controlling interest in the projects, which were originally acquired through a newly-formed partnership whose originally members included APCo, Gamesa and tax equity investors. APUC has been the majority owner and manager of the projects since commercial operation was achieved in 2012.
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