The two acquisitions will add about 35MW of operating biomass and 14.5MW of wind under construction to AltaGas’ renewable energy portfolio.
AltaGas chairman and CEO David Cornhill said these acquisitions provide the company with an opportunity to enter the US green energy market with fully contracted assets.
DEI primary assets include a 30% working interest in the 37MW Grayling Generating Station in Michigan, and a 50% working interest in the 48MW Craven County wood biomass power facility in North Carolina.
Black Hills/Colorado Electric Utility Company received approval from the Colorado Public Utilities Commission to construct a 29MW wind farm in Huerfano County, Colorado.
The project is planned for completion by the end of 2012 and has a 25-year power purchase agreement with the local utility, Black Hills Energy, a subsidiary of Black Hills Corp.
In addition to the renewable projects, AltaGas also announced the acquisition of 25MW of gas-fired peaking generation in southern Alberta from Maxim Power Corp.
