Enel offloads Alberta wind stakes
Minority interests in two projects totalling 145.6MW sold to AIMCo
Enel Green Power North America is to sell minority stakes in two Alberta wind farms totalling 145.6MW to the Alberta Investment Management Corp (AIMCo).
The deal involves the sale of 49% stakes in the 115MW Riverview and 30.6MW second phase of the Castle Rock Ridge projects.
The wind farms have yet to be built and are expected to start commercial operations by the end of 2019.
The parties said the total price of the transaction will be determined and paid once the projects are both online.
Enel Green Power will retain a 51% interest in both wind farms and will manage, operate and provide maintenance.
The overall investment in the construction of the wind farms is $170m, Enel said.
The projects will supply electricity to the Alberta Electric System Operator under two separate 20-year agreements.
AIMCo invests globally on behalf of 32 pension endowment and government funds in Alberta, Canada.