TransCanada Corp plans to sell its 132MW Kibby wind farm in Maine to Helix Generation as part of wider plans to monetize $3.7bn from in northeast power business.
The Canadian company will also sell its TC Hydro unit to Great River Hydro, an affiliate of ArcLight Capital Partners for $1.065bn.
The Helix Generation deal, which also includes thermal generation assets, totals $2.2bn.
The sales are expected to close in the first half of 2017 subject to certain regulatory and other approvals and will include closing adjustments, TransCanada said.
The proceeds of the sales will be used to repay a portion of the $6.9bn senior unsecured asset bridge term loan credit facilities, which were used to partially finance the Columbia Pipeline Group acquisition earlier this year.
Image: Morgue File
