Algonquin Power & Utilities Corp. (APUC) has announced that an affiliate of Algonquin Power Co. has acquired a 109.5 MegaWatt contracted wind powered generating station from Goldwind International SO Ltd. for $148.9 million.

The Shady Oaks wind power facility is located in nothern Illinois, roughly 80 kilometres west of Chicago. It reached commercial operation in June 2012. Total annual energy production is expected to be 364 Gigawatt hours per year. The Shady Oaks wind facility has entered into a 20-year inflation indexed power purchase agreement with the largest electric utility in the state, Commonwealth Edison.

“The acquisition of the Shady Oaks wind farm provides additional geographic diversification to our renewable power portfolio and the 20-year power sales contract further strengthens the stable, long-term profile of our non-regulated power business,” says Ian Robertson, CEO of APUC.

The facility is made of 68 Goldwind GigaWatt, 82 1.5 MegaWatt and 3 Goldwind GigaWatt 100 2.5 MegaWatt permanent magnet direct-drive wind turbines. The turbines are well-suited for the wind regime and offer significant technological advantages providing proven reliability, enhanced energy production efficiency and lower term maintenance costs.