Independent power producer TransAlta Renewables Inc. has reached commercial operation of two contracted wind projects: the Big Level and Antrim wind farms.
In conjunction with reaching commercial operation, approximately $126 million of tax equity proceeds were raised to partially fund the projects.
The 90 MW Big Level wind farm, located in Pennsylvania, is under a 15-year contract with Microsoft.
The 29 MW Antrim wind farm, located in New Hampshire, has two 20-year contracts with Partners Healthcare and New Hampshire Electric Co-op. All counterparties have a Standard & Poor’s credit rating of A+ or better.
“The addition of these assets to our renewable wind fleet is a great achievement as we further diversify our cash flows with high-quality counterparties,” says John Kousinioris, president of TransAlta Renewables. “We continue to pursue additional growth opportunities, including potential drop-down transactions with TransAlta Corp.”
Photo: TransAlta Renewables Inc. wind facility