Under the agreement, Atlantic Power spent around $23m of late-stage development capital to own 51% of Canadian Hills, which is the 100% owner of the Canadian Hills wind project.
The proposed 298.45MW wind power project is being developed by Apex Wind Energy in Oklahoma City.
Construction is expected to begin by April 2012 with commercial operations expected in November 2012.
The project will deploy REpower 2.05MW MM92 and Mitsubishi 2.4MW MWT102 wind turbines, and the project costs are expected to be around $460m.
The wind project has executed long-term power purchase agreements (PPAs) with investment grade offtakers for 250.45MW and is currently negotiating a similar PPA for the remaining 48MW.
Atlantic Power will be the project’s operator and asset manager.
