Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe

AIMCo acquires minority stake in two Alberta wind farms

By Michelle Froese | February 7, 2018

Alberta Investment Management Corporation (AIMCo), has announced that it has entered into a partnership with Enel Green Power North America, Inc. (EGPNA), the U.S.-based renewables subsidiary of Enel, for the operations of two renewable energy projects located in Pincher Creek, Alberta.

Following the closing of the transaction, EGPNA will manage, operate and perform asset management activities at both wind farms while retaining a majority ownership of the interest in the projects.

By way of the partnership, AIMCo will acquire a 49.0% equity interest in EGPNA’s two Alberta-based wind energy projects, Riverview and Castle Rock Ridge II Wind Farms. Castle Rock Ridge II Wind Farm is a 30.6-MW expansion of the currently operating 76-MW Castle Rock Ridge facility owned by EGPNA, and the Riverview Wind Farm is a 115-MW greenfield project located adjacent to the Castle Rock Ridge site.

On December 13th, 2017, the Alberta Electric System Operator (AESO) announced the results of Round 1 of the Alberta Renewable Electricity Program (REP), a competitive tender process launched in support of the Province’s Climate Change Leadership Plan. Through this process, the projects were awarded two 20-year Renewable Energy Support Agreements (RESA) for new wind capacity with the AESO, which is rated AA- by S&P. Construction and commercial operations of the projects are expected in 2019.

“We believe this is an exciting investment opportunity to partner on behalf of AIMCo’s clients in these high-quality infrastructure assets,” states Ben Hawkins, Senior Vice President, Infrastructure & Timber at AIMCo. “Once constructed these facilities will deliver renewable power to the Alberta electrical grid for many years, helping to meet the long-term energy needs of Albertans. We are pleased to be partnered in these facilities with a global leader in the industry and confident in their development and operating capabilities for renewable facilities.”

“In Canada and Alberta we see tremendous opportunity for renewables growth, including through these partnerships with renowned local investors,” said Antonio Cammisecra, Head of Enel’s Global Renewable Energies Division Enel Green Power.

Following the closing of the transaction, EGPNA will manage, operate and perform asset management activities at both wind farms while retaining a majority ownership of the interest in the projects.

EGPNA operates two wind facilities in Canada, the 76.2-MW Castle Rock Ridge wind farm in Pincher Creek, which began operations in 2012, and the 27 MW St. Lawrence wind farm in Newfoundland, which began operations in 2009. Riverview Wind and Phase 2 of Castle Rock Ridge, which is an expansion of EGPNA’s existing 76.- MW Castle Rock Ridge wind farm, are both located in Pincher Creek, Alberta and are due to enter into service by 2019. Once operational, the two facilities are expected to generate around 555-GWh per year.


Filed Under: News, Projects
Tagged With: aimco
 

About The Author

Michelle Froese

Related Articles Read More >

US government allows Empire Wind offshore project to resume construction
Richardson Electronics to deliver pitch energy modules to TransAlta wind fleets
Equinor halts work on Empire Wind offshore project after federal government order
ARESCA wants input on offshore wind standards

Podcasts

Wind Spotlight: Looking back at a year of Thrive with ZF Wind Power
See More >

Windpower Engineering & Development Digital Edition

Digital Edition

Browse the most current issue of Windpower Engineering & Development and back issues in an easy to use high quality format. Clip, share and download with the leading wind power engineering magazine today.

Windpower Engineering & Development
  • Wind Articles
  • Solar Power World
  • Subscribe to Windpower Engineering
  • About Us/Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising

Search Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe