Canadian Manufacturing

Samsung sells stake in one of Canada’s largest wind farms

270 megawatt site, which operates 140 turbines, came online last year



Siemens Canada will build 67 wind turbines for a 150-megawatt installation in southwestern Ontario. PHOTO Pattern Energy

The site operates 140 Siemens SWT-2.3 101 wind turbines. PHOTO Pattern Energy

TORONTO—Samsung Renewable Energy’s one-third stake in the 270 megawatt K2 Wind Facility outside Goderich, Ont. has changed hands.

A consortium of Axium Infrastructure, the Alberta Teachers’ Retirement Fund Board and Manulife Financial Corp. have acquired the company’s 33 per cent interest in the 140-turbine project, which came online last year.

The new owners did not disclose the financial details of the transaction, but said the deal adds a valuable long-term asset to each of their portfolios. The facility operates under a 20-year power purchase agreement with Ontario’s Independent Electricity System Operator (IESO).

Samsung developed the project alongside Pattern Energy Group Inc. and Capital Power Corp.; both companies will maintain their respective one-third interest in the Ontario wind farm.

Like many wind development projects, the wind farm faced a legal challenge as turbine construction progressed in 2014. The project, which is located not far from the shores of Lake Huron, cost approximately $850 million to build.

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