Algonquin in talks with Goldwind over US project purchase

Goldwind, only has one project in Illinois, the 106.5MW Shady Oaks power plant, 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.

In  a brief press release, Algonquin said: "Discussions are continuing and there is no certainty as to whether a binding agreement will be reached."

But Sparkspread.com, an energy financing newsletter, reported earlier today that a subsidiary of Algonquin Power & Utilities Corp. had already agreed to buy a Chinese-owned wind project in the Midwest.

Goldwind declined to comment on the reports while Algonquin was unavailable.

Electricity from the landmark project  is being sold to Commonwealth Edison and Xcel Energy under long-term contracts.

Goldwind developed the project with Ireland-based Mainstream Renewables and acquired the project in December 2010.
Algonquin owns and operates $1.9 billion of regulated and non-regulated utilities in North America.