Samsung Sells Stake in 270-Megawatt Ontario Wind Farmby
A Samsung C&T Corp. unit sold its stake in a 270-megawatt wind farm in Ontario to a group of investors comprising Axium Infrastructure Inc., Alberta Teachers’ Retirement Fund Board and Manulife Financial Corp.
Axium and its partners bought one-third of the K2 wind farm from Samsung Renewable Energy, the Montreal-based infrastructure investor said in an e-mailed statement Tuesday. Pattern Energy Group Inc. and Capital Power Corp. own the remainder.
K2, near Goderich, uses 140 Siemens AG turbines and was completed in May 2015. It sells power to the Independent Electricity System Operator of Ontario under a 20-year power-purchase agreement.
Toronto-based law firm Stikeman Elliott LLP advised the buyers.