Algonquin Power & Utilities Corp has brought online the 200MW Odell wind farm in Minnesota.
The project, which is located in Cottonwood, Jackson, Martin, and Watonwan counties, consists of 100 Vestas V110 2MW turbines.
It will sell electricity to an “investment grade utility” under a 20-year power purchase agreement.
The project cost $330m to build, of which $180m was equity financing, Algonquin said.
Algonquin holds a 50% equity interest in the project, but has provided notice of intent to exercise its option to purchase the remaining 50% of the project from the unnamed original devleoper.
It expects to acquire the remaining 50% upon receipt of regulatory approval, which is anticipated to occur in the fourth quarter of 2016.
Image: Vestas
