Atlantic Power to Buy Stake in Idaho Wind Projects

7 July 2010 (Last Updated July 7th, 2010 18:30)

Atlantic Power said that it will acquire a 27% interest in Idaho Wind Partners 1 (IWP) for $40m. IWP has started work on the 183MW wind power project comprising 11 wind farms located near Twin Falls, Idaho. Atlantic will indirectly own an interest in IWP, a partnership between

Atlantic Power said that it will acquire a 27% interest in Idaho Wind Partners 1 (IWP) for $40m.

IWP has started work on the 183MW wind power project comprising 11 wind farms located near Twin Falls, Idaho.

Atlantic will indirectly own an interest in IWP, a partnership between GE Energy Financial Services, Reunion Power and Exergy Development Group.

Power generated from IWP farms will be supplied to Idaho Power Company, under 20-year power purchase agreements.

The power plants will be fitted with GE 1.5MW turbines and will be supported by seven-year operations and maintenance agreement also with GE.

The project is due to be complete by end of the year.