Algonquin confirms Shady Oaks purchase

UNITED STATES: Ontario-based Algonquin Power and Utilities has bought Goldwind's 109.5MW Shady Oaks project in Illinois for $148.9 million

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The sale marks the first sale of a utility-scale project using Chinese turbines to a western buyer.

Tim Rosenzweig, Goldwind’s CEO for the Americas, said that the transaction involving the company’s largest US asset is a signal of more market acceptance of Goldwind’s permanent-magnet direct-drive technology.

"The sale of Shady Oaks marks a significant milestone for our growth in the Americas and demonstrates our ability to compete in a ferociously competitive wind market," he said.

Algonquin had confirmed negotiations over the sale in November.

The project, the only utility-scale wind farm in the US to use Chinese wind turbines, is mostly comprised of Goldwind’s GW82 1.5MW direct drive turbine. It also uses three GW100 2.5MW turbines.

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