North American utilities company Algonquin Power and Utilities has commenced full commercial operation of the 200MW Odell Wind Project in Minnesota, US.
Located in the Cottonwood, Martin, Jackson and Watonwan Counties of Minnesota, the approximately $330m wind project will produce renewable power under a power purchase agreement (PPA) with an investment grade utility.
The Odell Wind Project features 100 V110-2.0MW wind turbine generators provided by Danish wind turbine manufacturer Vestas.
The wind project has qualified for the US renewable energy production tax credits and tax equity investors have invested a sum of nearly $180m of equity financing toward project costs.
The Odell wind plant possesses an excellent wind resource that will enable the facility to generate an average of 832GWh of power every year, which will be sold under a 20-year PPA.
Algonquin power and utilities chief executive officer Ian Robertson said: “We are pleased to continue delivering on our planned growth pipeline for 2016 with the successful completion of the Odell wind farm.
“Odell's strong wind resource in a new geographic region and its long-term power purchase agreement make it an outstanding addition to our fleet of renewable generation facilities.”
Algonquin Power and Utilities currently owns a 50% equity interest in the Odell Wind Project, which was acquired by the company in 2014 from US-based utility-scale wind and solar energy developer Geronimo Energy.
Being the original developer of the wind plant, Geronimo Energy holds the remaining 50% stake in the project.
However, Algonquin intends to acquire the remaining shares from Geronimo upon receiving regulatory approvals expected in the fourth quarter of this year.