Canadian Power buys 30 MW of wind capacity in British Columbia
CK Group's wholly-owned Canadian Power Holdings Inc. has agreed to acquire two wind power facilities located in the Okanagan region of British Columbia. The agreement includes the purchase of 100% of the equity interests in Okanagan Wind and the assumption of certain debt from InstarAGF Asset Management. The transaction is expected to close towards the end of Q2 2021.
With a combined capacity of 30 MW, Okanagan Wind commenced commercial operations in 2017. Okanagan Wind is the first wind generation platform in the Okanagan region and consists of the Pennask Wind Farm and the Shinish Creek Wind Farm. All of the electricity generated by Okanagan Wind is sold under an inflation-linked Electricity Purchase Agreement with British Columbia Hydro and Power Authority with 37 years remaining.
CIBC Capital Markets is acting as financial advisor and Stikeman Elliott LLP is acting as legal advisor to Canadian Power.
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