This is IKEA Canada’s second investment in renewables in Alberta following the purchase of a 46-MW wind farm in Pincher Creek in 2013.
Teck Resources announced that it has entered into an agreement to sell its 49% interest in the Wintering Hills wind-power facility to IKEA Canada for CAD $58.6 million.
Wintering Hills is an 88-MW wind facility located near Drumheller, Alberta. It was commissioned in 2011.
The project’s joint owner, TA Wintering Hills L.P., is a subsidiary of TransAlta Corporation and has also sold 51% of its interest to IKEA Canada.
The transaction is expected to close in February 2017, subject to the satisfaction of customary closing conditions. Barclays Canada acted as financial advisor to Teck.
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