United States

United States

Algonquin signs off Gamesa deal on US projects

UNITED STATES: Ontario-based Algonquin Power has acquired a majority share of two projects in Illinois and Texas from Gamesa.

The projects use Gamesa's 2MW turbine
The projects use Gamesa's 2MW turbine

The projects are the 200MW Minonk project in Illinois and the 150MW Senate project in Texas. Algonquin has acquired a 60% share in both wind farms. It has also increased its share of the Sandy Ridge project in Pennsylvania, from 58.75% to 60%.

Initially, Algonquin was to acquire a 51% in the three projects. The original contract, which was announced in March, was part of a four-project deal.

There was no update on the fourth project, 80MW Pocahontas Prairie in Iowa. As of November, the wind farm was still owned by Gamesa.

The Minonk and Senate projects, which use Gamesa's 2MW turbine, came online this month. Monck and Senate have 10 and 15-year power purchase agreements respectively with JP Morgan Energy Ventures.

Algonquin was recently in talks with Goldwind to acquire its 106.5MW Shady Oaks wind farm, which largely uses the company's 1.5MW direct drive turbine. It is the only utility-scale wind farm in the US to use Chinese wind turbines.  

It is not known whether the Minonk deal affects the Shady Oaks talks.

Speaking about the Gamesa deal, Algonquin CEO Ian Robertson said: "The closing of the acquisition of our interest in the Minonk and Senate wind facilities demonstrates our continuing commitment to create value through the ownership of long-term, stable assets with risk-return profiles in line with our shareholders' expectations."

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