Alterra Power sold half of its 51% interest in the Dokie 1 wind farm to Fiera Axium Western Energy. Alterra received initial sales proceeds of $28,625,000, and may receive further earn-out payments of up to $2,250,000 over the next three years depending on asset performance. Alterra will retain 25.5% ownership of Dokie 1, and will continue to operate and manage the project.
TransAlta Renewables, through a wholly owned subsidiary of TransAlta, will acquire the economic interest in a 144-MW wind farm in Wyoming for approximately US$102 million from an affiliate of NextEra Energy Resources. The wind farm is fully operational and contracted under a long-term PPA until 2028 with an investment grade counterparty. The acquisition is subject to regulatory approvals and is expected to close by the end of December 2013.
Sweetwater Wind awarded a $2.6-million contract to S&C Electric, to upgrade a portion of its 585-MW wind farm in Sweetwater, Texas. This upgrade will enable Sweetwater Wind to meet new renewable energy generation interconnection standards that have been enacted in Electric Reliability Council of Texas (ERCOT). The new standards require Sweetwater Wind to provide a lagging power factor capability of 0.95 or less, and a leading power factor capability of 0.95 or less at the point of interconnection (POI).