During its 18-month construction period, K2 Wind averaged over 300 workers on site. The project is comprised of 140 Siemens 2.3-MW turbines and operates under a 20-year PPA with the IESO.
A consortium composed of Axium Infrastructure, Alberta Teachers’ Retirement Fund Board (ATRF), and Manulife Financial Corporation recently announced the completion of the acquisition of Samsung Renewable Energy’s one-third interest in the K2 Wind Facility.
One of Canada’s largest wind projects, the 270-MW K2 Wind is located near Goderich, Ontario, and achieved commercial operations in May 2015. The project is comprised of 140 Siemens SWT-2.3 101 turbines, and operates under a 20-year power purchase agreement with the Independent Electricity System Operator (IESO).
“Our consortium is very pleased to establish a partnership with Pattern Energy and Capital Power” said Juan Caceres, Vice President and Senior Investment Director of Axium Infrastructure. “This transaction is consistent with Axium’s ongoing strategy to acquire meaningful equity positions in high-quality renewable energy projects alongside strong partners.”
The remaining two-thirds interest in the project is held, in equal proportion, by Pattern Energy Group Inc. and Capital Power Corporation.
“The K2 wind facility is an excellent renewable energy asset that further enhances our infrastructure portfolio. We are pleased to be working in partnership with Axium and Manulife on this acquisition” said Rakesh Saraf, Head of Private Investments of ATRF.
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