Exus Management Partners (Exus) has been selected by IKEA owner Ingka Investments (Ingka) to provide asset management services for two wind farms in Alberta, Canada.
The Oldman 2 and Wintering Hills projects have a combined capacity of 134MW.
The five-year initial term will enable Exus to fully demonstrate their scope of asset, operations, maintenance and project management services in the Canadian market, applying the latest wind technology to increase annual energy production and extend asset life.
The deal brings Exus’ total Canadian assets under management to 850MW, while extending Exus’ partnership with Ingka Investments into its second North American country.
This follows Exus’ previous appointment as asset manager on the Misae and Sage solar projects in Texas and Utah, totaling 400MW which are part owned by Ingka Investments.
Exus head of asset management for North America Dhaval Bhalodia said: “With the Canadian market experiencing a surge of interest in renewables, we look forward to strengthening our partnership with Ingka Investments as they deliver clean energy to the North American market and beyond.
“In our role as asset manager we look to draw on our experience globally, with a focus on ensuring that the wind farms perform to their highest standards as we seek to optimize technical performance and deliver maximum value for our client.”
Willem Malda, head of operations renewable energy portfolio at Ingka Investments, added: “We are pleased to extend our cooperation with Exus to include operations in the Canadian renewables market.
“Both projects require high levels of technical expertise to manage effectively, and we are confident that Exus’ in-house team of specialists will offer Ingka advice and complete oversight across the wind farms, enabling us to maximize returns for our investors.”