Algonquin Pays $900M For 4 Gamesa Wind Farms

Law360, New York (March 9, 2012, 12:53 PM EST) -- Spanish wind turbine manufacturer Gamesa Corp Tecnologica SA has agreed to sell four of its U.S. power projects to a subsidiary of Canadian energy player Algonquin Power & Utilities Corp for nearly $900 million, the companies announced Friday.

The deal doubles Algonquin's power generation portfolio, with the addition of 450 megawatts scheduled for commissioning in 2012. Each of the projects will come under the newly formed joint venture of American Wind Portfolio Holdings LLC, in which the Canadian energy company will own a 51 percent stake...
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