Canada-based energy company Greengate Power has sold its construction-ready 300MW Blackspring Ridge wind project in Alberta province to Enbridge and EDF EN Canada.
Both the companies have acquired 50% stake each in the $600m-project which is expected to be the largest wind energy project post-completion in 2014.
Earlier in 2011, Greengate had offloaded its ownership in construction-ready 150 MW Halkirk wind project in Alberta.
The two projects with combined 450MW capacity can cater to energy needs of 200,000 homes besides reducing greenhouse gas emissions by nearly 20 million tons over 25 years. Also, both the projects represent consolidated investment of $1bn.
Commenting on the sale, Greengate president and CEO Dan Balaban noted that the sale ensures the construction of the largest wind power project, yielding economic and environmental benefits related to the project.
"This successful project is another example of the world-class development capabilities of our team," added Balaban.
Following the sale, Greengate’s project portfolio consists of the 150MW Wheatland wind project, the 150 MW Paintearth and the 150 MW Stirling wind project.