Algonquin Power & Utilities Corp. (TSX: AQN) on April 15 announced the completion of the 20-MW Bakersfield I Solar and the 23-MW Morse Wind projects.
Bakersfield I Solar, located in Kern County, California, is Algonquin’s second solar generating facility and is comprised of approximately 85,000 solar panels located on 165 acres of land. The project is expected to generate 53.3 GWh per year and has a 20-year power purchase agreement with a large investment-grade electric utility. Algonquin is currently pursuing the construction of the 10-MW Bakersfield II Solar project, which is on a site adjacent to Bakersfield I Solar and is estimated to be operational in the first half of 2016.
Morse Wind, located near Morse in Saskatchewan, Canada, is Algonquin’s eighth wind generating facility, and consists of 10 direct drive wind turbine generators spread over 1,120 acres of land. The project is expected to generate 104.0 GWh of energy per year which is being sold under a 20-year power purchase agreement with a large investment-grade electric utility.
“We are very pleased with the continuing success of our North American renewable energy development program as evidenced by the timely completion of these two generation projects,” said Ian Robertson, Chief Executive Officer of the company. “These projects confirm our commitment to growing our renewable energy portfolio both in Canada and the U.S. and we are confident that these projects represent continued creation of shareholder value.”
Algonquin Power & Utilities is a $4.1 billion North American diversified generation, transmission and distribution utility. The non-regulated generation business group owns or has interests in a portfolio of North American based contracted wind, solar, hydroelectric and natural gas powered generating facilities representing more than 1,050 MW of installed capacity. Algonquin Power & Utilities delivers continuing growth through an expanding pipeline of renewable energy development projects, organic growth within its regulated distribution and transmission businesses, and the pursuit of accretive acquisitions.