The Oakville, Ont.-based firm buys a 109.5-megawatt wind-powered generating station for $148.9 million.
OAKVILLE, Ont.—Algonquin Power & Utilities Corp. has acquired a 109.5-megawatt, wind-powered generating station in northern Illinois for $148.9 million.
The Shady Oaks generating plant, purchased from Goldwind International SO Ltd., has a 20-year, inflation-indexed power purchase agreement with Commonwealth Edison, the largest electric utility in the state, Algonquin said Wednesday.
The facility, about 80 kilometres west of Chicago, is comprised of 68 Goldwind GW82 1.5MW and three Goldwind GW100 2.5MW permanent magnet direct-drive wind turbines.
Through its affiliate, Goldwind has assumed all operations, maintenance and capital repair responsibilities for the Shady Oaks wind facility related to the fixed-price agreement.
“The acquisition of the Shady Oaks wind farm provides additional geographic diversification to our renewable power portfolio and the 20-year power sales contract further strengthens the stable, long-term profile of our non-regulated power business,” said APUC chief executive Ian Robertson.
Oakville, Ont.-based Algonquin owns and operates a diversified, $2.8-billion portfolio of regulated and non-regulated water, electricity and natural gas utilities in North America.