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Fund manager to invest in 2 Enel wind farms in Alberta

Alberta Investment Management Corp., or AIMCo, plans to make an equity investment in two wind farms in Pincher Creek, Alberta. Under the agreement with Enel Green Power North America Inc., AIMCo will purchase a 49% equity interest in the 115-MW Riverview Wind Farm and the 30.6-MW Castle Rock Ridge Wind Farm.

The projects, both currently under development, in December 2017 were granted 20-year renewable energy support agreements for new wind capacity with the Alberta Electric System Operator, and are both expected to start construction and reach commercial operations in 2019.

Upon deal close, the Enel SpA subsidiary will manage, operate and perform asset management activities at the facilities, while retaining a majority stake in the projects. AIMCo is an investment fund manager that invests on behalf of pension, endowment and government funds in the province of Alberta.