Gamesa sells wind farms totalling 480 MW to Alonquin

Gamesa has signed a deal to sell four wind farms in the United States, with combined capacity of 480 MW, to Canada’s Algonquin Power & Utilities Corp. (Algonquin) for approximately $900m.

These wind farm projects will be outfitted with 240 of Gamesa’s G9X-2.0 MW turbines and are sited in high wind resource areas: Pocahontas Prairie (80 MW) in Iowa; Sandy Ridge (50 MW) in Pennsylvania; Senate (150 MW) in Texas; and Minonk (200 MW) in Illinois.

Gamesa is developing and constructing the projects, which will be commissioned during 2012: 80 MW have been fully commissioned, while the remainder are under various stages of construction.

The deal represents new firm orders of 350 MW for delivery in 2012. In addition, Gamesa will provide O&M and asset management services during 20 years for each of the wind farms comprising the portfolio.

“This transaction combines three of Gamesa’s major goals: partnering up with new leading customers in the North American renewable energy sector; attracting investments from tier one financial institutions who value and underwrite in our technology and in the wind power market; and further achieving our economic goal of maximising the value of our wind farm portfolio, in this case in the US,” said Gamesa Chairman and CEO, Jorge Calvet.

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