IKEA Canada To Take Over 88 MW Alberta Wind Farm

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Teck Resources Ltd., a diversified resource company based in Vancouver, British Columbia, has entered into an agreement to sell its 49% interest in the Wintering Hills wind power facility to IKEA Canada for C$58.6 million.

The joint owner, TA Wintering Hills LP, a subsidiary of TransAlta Corp., has also announced the sale of its 51% interest to IKEA Canada.

Wintering Hills is an 88 MW wind project located near Drumheller, Alberta. Commissioned in 2011, the project comprises 55 GE 1.6 MW wind turbines.

Subject to customary closing conditions, the transaction is expected to close in February. Barclays Canada acted as financial advisor to Teck.

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