AQN - Algonquin Power sells stakes in U.S. Canada wind projects for combined $354M

Algonquin Power & Utilities ( NYSE: AQN ) said Monday it agreed to sell ownership interests in a portfolio of operating wind projects in the U.S. and Canada to investment manager InfraRed Capital Partners.

Algonquin ( AQN ) said it will sell a 49% interest in three operating wind facilities in the U.S. with a total of 551 MW of installed capacity and an 80% stake in a 175 MW operating wind facility in Canada.

The U.S. plants are the Odell Wind Facility in Minnesota, the Deerfield Wind Facility in Michigan and the Sugar Creek Wind Facility in Illinois, and the Canadian plant is the Blue Hill Wind Facility in Saskatchewan.

The company expects to receive $277M for its U.S. facilities and C$107M (US$77.4M) for the Canadian facility.

Algonquin ( AQN ) said it will continue to oversee day-to-day operations and provide management services to the facilities in both countries.

For further details see: