Share
Energy & Natural Resources| Client Successes

Algonquin Power Makes Wind Farm Acquisitions

Situation

Represented U.S. subsidiary of Toronto-based Algonquin Power Co. in acquiring a 60 percent interest in three wind farms, upon commencement of commercial operations, totaling 400 megawatts in Pennsylvania, Illinois and Texas, having a total cost of nearly $747 million.

Result

Each acquisition involved the negotiation of turbine warranties and 20-year operating agreements, the negotiation and simultaneous closing of third-party tax equity investments in the projects and long-term project-financed energy hedges that established a fixed price for a substantial portion of the output of the facilities.