ANOTHER BIG IDAHO WIND BUY

Atlantic Power Invests $40 Million in Idaho Wind-Energy Project
Andrew Herndon (w/James Langford and Cecile Daurat), July 6, 2010 (Bloomberg BusinessWeek)

"Atlantic Power Corp., the independent electricity producer, bought a minority stake in 11 wind farms under construction in Idaho for about $40 million.

"Atlantic Power used cash and $20 million from a senior credit facility to pay for a 27 percent interest in joint venture Idaho Wind Partners 1…The power-generating sites will have a capacity of 183 megawatts."

Idaho's modest wind assets are attracting big money. (click to enlarge)

"Atlantic Power’s investment follows General Electric Co.’s acquisition of a majority stake in Idaho Wind last week. Project manager Reunion Power LLC of New Jersey and Montana-based developer Exergy Development Group own minority stakes.

"Fagen Inc. began building the project this month…Commercial operations are slated to start by the end of this year, and utility Idaho Power Co. has agreed to purchase the output from the wind farms under a 20-year contract...The wind-farm cluster will use 122 of GE’s 1.5-megawatt turbines, and…[GE] will provide operational and maintenance services for seven years."