|Gamesa Sells 480 MW Wind Farms in US||
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Gamesa has signed a deal to sell four wind farms in the US, with combined capacity of 480 MW, to Canada’s Algonquin Power & Utilities Corp. for approximately $900 million. These wind farm projects will be outfitted with 240 of Gamesa’s G9X-2.0 MW turbines and are sited in high wind resource areas: Pocahontas Prairie (80 MW) in Iowa; Sandy Ridge (50 MW) in Pennsylvania; Senate (150 MW) in Texas; and Minonk (200 MW) in Illinois.
Gamesa is developing and constructing the projects, which will be commissioned during 2012: 80 MW have been fully commissioned, while the remainder are under various stages of construction.
The deal represents new firm orders of 350 MW for delivery in 2012. In addition, Gamesa will provide operation and maintenance and asset management services during 20 years for each of the wind farms comprising the portfolio.
The two firms have also entered into a joint development agreement for future wind power development opportunities in North America. Algonquin will be provided visibility into Gamesa’s 3.5 GW of near- and medium-term wind power development projects in the US. The Spanish company will also have the opportunity to work with Algonquin to advance and expand the Canadian firm’s 325-MW pipeline of contracted developments.