Algonquin Power unit buys wind power farm for $148.9mn

Algonquin Power & Utilities Corp. (APUC, TSX: AQN) said that an affiliate of Algonquin Power Co. acquired the 109.5 MW Shady Oaks wind energy project from Goldwind International SO Limited for $148.9 million.

The Shady Oaks wind power facility is located in northern Illinois. It started commercial operation in June 2012 and uses 68 Goldwind GW82 1.5 MW and 3 Goldwind GW100 2.5 MW turbines. Commonwealth Edison signed a 20-year inflation indexed power purchase agreement for the output from the plant.

Through its affiliate, Goldwind has assumed all operations, maintenance, and capital repair responsibilities for the Shady Oaks wind facility pursuant to a 20-year fixed price agreement.

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