Pattern Energy is to sell its 33.3% interest in the 270MW K2 wind farm in Ontario to a consortium of investors led by Axium Infrastructure for C$216m.
The transaction is expected to close by the end of the year, subject to customary closing conditions, Pattern said.
K2 is located at Ashfield-Colborne-Wawanosh and started commercial operations in June 2015.
It was developed by a joint venture between Pattern Energy, the Axium-led consortium and Capital Power Corp.
Capital Power has also agreed to sell its 33.3% stake in the facility to the consortium.
Pattern Energy chief executive Mike Garland said: “K2 was a good candidate for recycling given our minority interest. The sale demonstrates the confidence of Canadian investors in the Ontario market.”
The company intends to use the net proceeds from the sale for general corporate purposes, which may include funding investments, acquisitions or the repayment of debt.