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Samsung offloads stake in Ontario wind farm

CANADA: Samsung Renewable Energy has sold its 33.3% stake in Ontario's 270MW K2 wind farm to a consortium of Canadian investors.

Siemens 2.3MW turbines power the K2 wind farm in Ontario
Siemens 2.3MW turbines power the K2 wind farm in Ontario

Axium Infrastructure, Alberta Teachers’ Retirement Fund Board, and Manulife Financial Corporation, have acquired Samsung’s share for an undisclosed amount.

Pattern Energy Group and Capital Power Corporation have each retained their one-third interest in the asset.

Comprising 140 Siemens SWT-2.3-101 turbines, K2 was commissioned in May 2015. It operates under a 20-year power purchase agreement with the Independent Electricity System Operator.

"This transaction is consistent with Axium’s strategy to acquire meaningful equity positions in high-quality renewable energy projects alongside strong partners," said Axium vice president Juan Caceres.

 

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