Macquarie Infrastructure company acquires interest in wind power facilities
Macquarie Infrastructure Company announced last week that it has invested $11.5 million, excluding transaction-related costs, in a non-controlling interest in Idaho Wind Partners 1 LLC, a portfolio of 183 megawatts of wind power generating facilities, near Twin Falls, Idaho. MIC funded the transaction with available cash.
The transaction increases the aggregate power generating capacity of MIC’s Contracted Power and Energy (CP&E) segment to approximately 96 megawatts. The CP&E portfolio consists of investments in five solar (photovoltaic) facilities and two wind power generating projects, including the Idaho facilities.
James Hooke, Chief Executive Officer of MIC, said:
“We continue to find good, accretive opportunities to deploy capital in our CP&E segment. We’re pleased to have acquired this stake in Idaho Wind Partners 1 and with it the opportunity to explore increasing our investment in the project over time.”
The Idaho Wind Partners 1 project utilizes 122 General Electric 1.5 megawatt turbines and commenced commercial operations in late 2010 and early 2011. Power produced by the project is sold to a regional utility pursuant to a 20-year power purchase agreement with 17 years remaining.
In addition to MIC, facility owners include GE Energy Financial Services, Atlantic Power and Ruby Renewable Resources.
Macquarie Infrastructure Company owns and operates a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and several entities comprising a Contracted Power and Energy segment.
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