InfraRed Capital Partners has entered into an agreement to acquire a 49 percent stake in a portfolio of three operating, utility-scale wind assets in the United States from Algonquin Power & Utilities Corp., a renewable energy and utility company with more than $17 billion of total assets. InfraRed has also agreed to acquire an 80 percent stake from Algonquin in Blue Hill, a Canadian wind asset. Financial terms of the transaction were not disclosed.
The portfolio comprises the following operational projects:
Deerfield, a 149-megwatt (MW) wind farm in Michigan
Odell, a 200 MW wind farm in Minnesota
Sugar Creek, a 202 MW wind farm in Illinois
Blue Hill, a 175 MW wind farm in Saskatchewan
Algonquin will continue to function as operator of all four assets.
