San Francisco-based Pattern Energy Group Inc eports it will sell its 90-MW interest in the 270-MW, K2 wind farm in Ontario for $216 million (Cdn) ($164.8 million US) to a consortium led by Axium Infrastructure. The deal is expected to close before the year end.
The K2 wind power facility, located in the Township of Ashfield-Colborne-Wawanosh, was a joint venture between Pattern Energy, an Axium-led consortium and Capital Power Corporation. (Source; Pattern Energy, Nov., 2018)
Further to our August 15th coverage, Swedish marine energy developer Minesto AB reports it has entered into an agreement with electric utility SEV for the installation of two DG100 tidal energy converters in the waters surrounding the Faroe Islands, in he North Atlantic.
SEV will provide the infrastructure for the grid-connected project, and purchase the output of the two subsea kite devices under long term PPA. Installation of both devices is to be completed in 2020. The project will be funded through a mix of equity and resources from Minesto and SEV, plus public funding grants. The Faroe Islands are planning a transition to 100 pct renewable power by 2030. (Source: Minesto AB,PR, Renewables Now, 12 Nov., 2018)
In the Buckeye State, Columbus-based American Electric Power (AEP) reports it plans to invest $33 billion in capital from 2019 through 2023, $2.7 billion of which is earmarked for new renewable generation, including approximately $2.2 billion for competitive, contracted renewable projects. The company will work with regulators to identify additional opportunities to add renewable generation in its regulated jurisdictions.
AEP operates the nation’s largest electricity transmission system to deliver power to nearly 5.4 million regulated customers in 11 states. The company also has approximately 32,000 MW of generating capacity, including 4,340 MW of renewable energy. (Source: AEP, WindPower, Nov., 2018)