Atlantic Power to Buy 51% of Oklahoma Wind Farm for $23 Million

Atlantic Power Corp. (ATP), a Boston-based independent power producer, agreed to buy a 51 percent stake in a 298-megawatt wind farm in Oklahoma for $23 million.

Construction on the $460 million Canadian Hills project, about 20 miles (32 kilometers) west of Oklahoma City, will begin in April, and it’s expected to begin producing electricity by November, Atlantic Power said today in a statement.

Apex Wind Energy Inc., based in Charlottesville, Virginia, is developing the project, which will use turbines from Repower Systems SE and Mitsubishi Heavy Industries Ltd. (7011)

The project has long-term power-purchase agreements to sell 250.45 megawatts of capacity and is in talks to sell the remainder, according to the statement, which didn’t name the buyers.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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