InfraRed Capital Partners has announced that it has entered into an agreement to acquire a 49 per cent stake in a portfolio of three operating, utility-scale wind assets in the US from Algonquin Power & Utilities. No financial details have been disclosed by the companies. Algonquin will sell its stake in the 202 MW Sugar Creek project in Illinois, the 149 MW Deerfield wind farm in Michigan, and the 200 MW Odell wind farm in Minnesota.
Additionally, InfraRed has agreed to purchase an 80 per cent ownership in Blue Hill, a 175 MW Canadian wind farm in Saskatchewan. The agreement is anticipated to expand InfraRed’s renewable asset portfolio’s regional and offtake diversity. With the subject of regulatory approvals and customary closing conditions, the deal is anticipated to close in December 2022. Following the agreement, Algonquin will continue to manage all four wind farms.
InfraRed Capital Partners is an international infrastructure investment manager, investing in real assets which contribute positively to society and support the transition to a net zero future. It operates worldwide from offices in London, New York, Sydney and Seoul. InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
