Alterra Power Corp. announced the acquisition of the 320-MW Boswell Springs wind development in Albany County, Wyoming. Construction of the project’s main power transformers began in 2016, and the wind farm should achieve commercial operation in 2020.
Alterra expects the wind farm to qualify for U.S. renewable electricity production tax credits at the full rate. The company will sell 100% of its output under 20-year power purchase agreements with Rocky Mountain Power, a division of PacifiCorp.
“We’re pleased to complete this next major step in our growth plans, culminating over a year of cooperation with the original developer, Intermountain Wind,” said Paul Rapp, Alterra’s VP of Project Development. “This acquisition further establishes our USA growth trajectory and the realization of our wind project PTC qualification plans.”
Alterra acquired the Project from Intermountain Wind, along with certain of its partners and affiliates. Intermountain was advised in the transaction by Houlihan Lokey, Inc.
“After over 10 years of development, we are excited to have identified Alterra as the right partner to facilitate the completion of the project,” said Paul Martin, President of Intermountain Wind. “When operational, it will provide clean, cost-effective power to consumers in the Rocky Mountain region while producing significant tax revenues and other economic benefits for Wyoming.”
Martin will provide service and support for the wind project over the next two years, while continuing to develop the Intermountain Wind project portfolio.