Enel sells minority stake in two Pincher Creek wind projects

EGP-NA's 76.2 MW Castle Rock Ridge wind farm in Pincher Creek, AB. Photo courtesy of Enel Green Power North America, Inc.

From press release - Enel S.p.A. (“Enel” or “the Group”), through its US renewables company Enel Green Power North America, Inc. (“EGPNA”), has signed a partnership agreement with Alberta Investment Management Corporation (“AIMCo”), whereby the Group will sell 49% of the shares in the 115 MW Riverview wind farm and in the 30.6 MW Phase 2 of Castle Rock Ridge wind farm, both to be built in Pincher Creek, Alberta. The total consideration for this transaction, which will be paid upon closing of the deal, will be determined at commercial operation of the wind farm, expected by the end of 2019. Following the closing of the transaction, EGPNA will manage, operate and perform asset maintenance activities at both wind farms while retaining a 51% majority ownership of the interest in the projects. 

Enel awarded two 20-year Renewable Energy Support Agreements for Pincher wind farms

EGP-NA's 76.2 MW Castle Rock Ridge wind farm in Pincher Creek, AB. Photo courtesy of Enel Green Power North America, Inc.

Chris Davis - On December 13 the Government of Alberta announced the results of the first round of the Renewable Energy Program, which is part of Alberta's Climate Leadership Plan. Three companies were successful in their record low bids to provide renewable energy to Alberta consumers. Enel Green Power North American (EGPNA) has been awarded two 20-year Renewable Energy Support Agreements (RESAs) for 146 MW of new wind capacity at wind farm developments located north and east of Pincher Station, expected to generate around 555 GWh per year. Capital Power will build a 201-megawatt wind project 60 kilometres southwest of Medicine Hat. EDP Renewables Canada Ltd. will build a 248-megawatt wind farm east of Hanna. According to an EGPNA press release, overall investment in the two Pincher Creek wind farms will amount to approximately 170 million US dollars, which is approximately 218 million Canadian dollars at today's exchange rate. The Government of Alberta anticipates the creation of approximately 740 jobs related to the four  projects.