Aug 6, 2014 - US investment fund Macquarie Infrastructure Company LLC (NYSE:MIC) said yesterday it had bought a non-controlling stake in Idaho Wind Partners 1 LLC, the owner of 183 MW of wind farms in Idaho, for USD 11.5 million (EUR 8.6m).
The investment will boost the total power generating capacity of Macquarie’s power and energy division to about 96 MW. Including the Idaho plants, the segment owns stakes in five solar and two wind farms.
The value of the deal does not include transaction-related costs, the buyer noted, adding that it had financed the purchase with cash on hand. Macquarie’s CEO James Hooke said that the fund might increase its investment in the target entity in the future.
The Idaho Wind Partners 1 plants near Twin Falls are powered by 122 turbines supplied by General Electric (NYSE:GE), each with a capacity of 1.5 MW. The facilities, owned by GE Energy Financial Services, Atlantic Power and Ruby Renewable Resources, kicked off commercial operations in 2010 and 2011. Their output is being sold to a local utility under a 20-year power purchase agreement.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.