The 480MW wind portfolio consists of four facilities, 200MW Minonk in Illinois, 150MW Senate in Texas, 80MW Pocahontas Prairie in Iowa and 50MW Sandy Ridge in Pennsylvania.
Pocahontas Prairie and Sandy Ridge have recently reached their commercial operation dates (COD) in February 2012, and Senate and Minonk are in construction with COD anticipated in the fourth quarter of 2012.
The projects are comprised of 240 Gamesa G9X-2MW wind turbines which are well suited to the wind regimes and have been proven through the installation of over 3,200MW of G90 turbines to date worldwide.
Total annual energy production from the four facilities is expected to be 1,644GWh per year.
The projects will deliver operations, warranty and maintenance services for the wind turbines and balance of plant facilities, under a 20-year contract with Gamesa.
The facilities will be acquired through American Wind Portfolio Holdings (AWPH), a newly formed partnership whose members include APCo, Gamesa and certain tax equity investors.
Closing of the acquisition of the projects is contemplated to occur in two stages; closing of the acquisition of Pocahontas Prairie and Sandy Ridge is expected to occur promptly following receipt of regulatory approval and the acquisition of Senate and Minonk will occur following their respective CODs, expected in fourth quarter of 2012.
In addition to the agreement for the acquisition of the Projects, Gamesa and APCo have entered into a joint development agreement pursuant to which they will jointly pursue additional wind power development opportunities in the US and Canada.
