Allete grabs 100MW wind farm
$108m deal with AES and stakeholder for Armenia Mountain, Pennsylvania
Allete Clean Energy is buying the operational 100.5MW Armenia Mountain wind farm in Pennsylvania, US.
The deal for the facility with AES Corporation and a non-controlling minority stakeholder totals $108m and ACE will assume existing debt.
The company had an option to purchase the wind farm which was exercised on April 1 and the deal is expected to close in July.
Armenia Mountain is sited near Troy and features 67 1.5MW GE turbines that were installed in 2009. All output is sold through existing power purchase agreements that extend through 2025.
It is the fourth wind facility ACE has acquired from AES and the seventh in its portfolio.
"This acquisition continues our steady growth with ACE's operating assets to total 540MW," said ACE president Eric Norberg.
Image: the facility features 1.5MW GE turbines (GE)