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July 8, 2020

Cordelio acquires 350MW wind portfolio in Illinois, US

Canada’s independent power producer Cordelio Power has announced the acquisition of two wind farm facilities in central Illinois.

Canada-based power producer Cordelio Power has announced the acquisition of two wind farm facilities in central Illinois, US.

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Delve into the renewable energy prospects for Morocco

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The facilities were purchased from Swift Current Energy, and have a nameplate capacity of more than 350MW.

The Glacier Sands and Moraine Sands wind projects are under development. The companies expect them to come online in 2021 and 2022, respectively.

Neither company has divulged financial details of the deal.

Cordelio Power chief commercial officer Nick Karambelas said: “We are pleased to start the next phase of our growth and to work with the Swift Current team.

“These projects represent our opportunity to help Illinois meet its clean power goals while making a positive impact on Mason County and its local communities.”

Swift Current has agreed to work with Cordelio to advance the Illinois wind projects under a development services agreement. Additionally, a portion of the Glacier Sands project has already been contracted to supply clean energy for 14 years.

Swift Current partner Matt Birchby said: “The Swift Current Energy team is excited to have Cordelio Power acquire these high impact wind projects.

“We look forward to working closely with Cordelio on these projects to bring clean, home-grown energy, and the good jobs and economic opportunity that come with them, to Illinois.”

Wholly owned by CPP Investments, Cordelio manages more than 1,000MW renewable power generation portfolio in Canada.

Swift Current is a clean energy-focused development and investment firm with over 1GW of utility-scale renewable energy projects.

For this deal, the company was advised by KeyBanc Capital Markets.

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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