Asset manager Instar closes sale of 30-MW wind portfolio in BC
The Pennask wind farm. Source: Okanagan Wind.
Instar Asset Management announced on Tuesday that it has finalised the sale of the 30-MW Okanagan Wind platform in British Columbia to Calgary-based Canadian Power Holdings Inc, a wholly-owned subsidiary of CK Group.
The deal signed earlier this year concerns two wind farms in the Okanagan region, namely Pennask and Shinish Creek, that started commercial operations in 2017 and sell power under a couple of 40-year electricity purchase contracts with BC Hydro. Together, they account for 4.2% of British Columbia’s installed wind power capacity, according to the press release.
The two wind parks can generate some 100,000 MWh of electricity a year, which is enough to meet the annual consumption of about 9,000 homes.
Okanagan Wind is now CK Group’s first renewable energy asset in Canada.