Allete Clean Energy said it will acquire the project from AES Armenia Mountain Wind and a minority shareholder for $108 million plus assumption of debt.
The wind farm, near Troy, Pa., in north central Pennsylvania, generates 100 megawatts of electricity from 67 turbines installed in 2009. Allete said the power is sold under 25-year power purchase agreements. It is the largest wind acquisition by Allete Clean Energy, the company said.
Allete Inc., long reliant on coal-fired generation at its Minnesota Power unit, is making bold moves into renewable energy. Minnesota Power, a regulated utility serving northern Minnesota, has separately built wind farms in North Dakota. Allete Clean Energy, formed in 2011, also is develop a wind farm in North Dakota for another utility.
“This latest transaction reinforces our belief that a more sustainable energy future relying less on carbon will mold the North American energy landscape over the long haul,” said Allete CEO Al Hodnik in a statement.
Allete Clean Energy’s six earlier wind acquisitions include a $47.5 million deal announced last month for 97.5-megawatt project near Lake Benton, Minn., from EDF Renewable Energy. Other acquisitions include three projects in Iowa, Minnesota and Oregon that closed in January 2014 and another in Storm Lake, Iowa, in December.