The other two-thirds of the state in the wind facility, located Ashfield-Colborne-Wawanosh (ACW), Ontario will held equally by Pattern Energy and Capital Power.

The K2 wind facility, which began its commercial operations in May 2015, features 140 Siemens SWT-2.3 101 turbines.

It sells its output under a 20-year power purchase agreement with the Independent Electricity System Operator (IESO).

The power produced at the facility is enough to power at least 100,000 Canadian homes.

Axium Infrastructure Vice President and Senior Investment Director Juan Caceres said: “Our consortium is very pleased to establish a partnership with Pattern Energy and Capital Power.

“This transaction is consistent with Axium’s ongoing strategy to acquire meaningful equity positions in high-quality renewable energy projects alongside strong partners.”

With the wind facility, an estimated amount of 842,000 tonnes of carbon dioxide emissions per year can be avoided, along with 4,000 tonnes of sulphur dioxide. It can also save about 2 billion litres of water per year.

ATRF Private Investments Head Rakesh Saraf said: “The K2 wind facility is an excellent renewable energy asset that further enhances our infrastructure portfolio. We are pleased to be working in partnership with Axium and Manulife on this acquisition.”

For the transaction, Toronto-based Stikeman Elliott acted as legal advisor to the consortium.


Image: A consortium including Axium, ATRF, Manulife buy Samsung’s state in K2 wind facility. Photo: Courtesy of pakorn/ FreeDigitalPhotos.net.