January 13, 2012

Tehachapi wind farm is sold

Central Valley Business Times, www.centralvalleybusinesstimes.com 13 January 2012

Brookfield Renewable Energy Partners L.P. (TSX: BEP.UN), headquartered in Hamilton, Bermuda, and a subsidiary of Brookfield Asset Management Inc. of New York, says it has purchased a 150-megawatt wind farm in the Tehachapi area of Kern County.

The company declined to identify the seller or the financial terms of the deal. It also declined to discuss any plans it has for the system.

It does say that the project is located close to Brookfield Renewable’s existing 102-megawatt wind farm and has a 24-year power purchase agreement with Southern California Edison.

The wind farm consists of 50 Vestas V90 3.0-megawatts turbines, the same model in use at the neighboring facility and at Brookfield’s wind farm in New Hampshire.

The company says it has also bought out the interest held by Coram Energy Group in the 102-megawatt Tehachapi wind farm, as well as acquiring an additional 22 megawatts of operating wind generation capacity.

Brookfield Renewable says it will manage all of these newly acquired assets, which will be integrated into its North American operating platform. The transactions are subject to customary closing conditions and are expected to close in the first quarter of 2012.

“We are making strong progress on our growth plans. The 150 megawatt wind asset, combined with the consolidation of our ownership interest in Coram, are strong additions to our renewable power portfolio,” says Richard Legault, chief executive officer of Brookfield Renewable. “These projects are situated in an attractive market and wind resource region, and further expand our renewable business in California.”

URL to article:  https://www.wind-watch.org/news/2012/01/13/tehachapi-wind-farm-is-sold/