Macquarie extends renewables reach with stake in US wind farm

Macquarie Infrastructure Company has paid $11.5 million for a stake in a US wind farm developer with 183MW of wind power generating facilities near Twin Falls, Idaho.

MIC – a New York-based subsidiary of Macquarie Group – bought a non-controlling interest in Idaho Wind Partners 1 using available cash, according to a report in the Wall Street Journal – a transaction that increases the aggregate power generating capacity of its Contracted Power and Energy (CP&E) segment to around 96MW.

Macquarie CP&E’s total renewables investments include five solar PV facilities and two wind power generating projects, including the Idaho facilities. ge-idaho

“We continue to find good, accretive opportunities to deploy capital in our CP&E segment,” says MIC chief executive James Hooke. “We’re pleased to have acquired this stake in Idaho Wind Partners 1 and with it the opportunity to explore increasing our investment in the project over time.”

First commissioned in late 2010, Idaho Wind Partners 1 uses 122 General Electric 1.5MW wind turbines and supplies the electricity it generate to a local utility, through a 20-year power off-take agreement.

In addition to MIC, the wind farm’s owners include GE Energy Financial Services, Atlantic Power and Ruby Renewable Resources.

 

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