Charlottesville, Virginia (Platts)--27Nov2012/527 pm EST/2227 GMT
Algonquin Power & Utilities said Tuesday it has entered into discussions with Chinese company Goldwind International for the potential purchase of a 109-MW Illinois wind farm owned by Goldwind. Canada-based Algonquin did not name the project, and the Goldwind US affiliate in Chicago declined comment. But Goldwind owns the 109-MW Shady Oak wind farm in Lee County, Illinois. If the deal goes through, it will continue a buying spree under way by Algonquin, which already owns and operates $1.9 billion of regulated and non-regulated water, electricity and natural gas assets. Algonquin in July bought a 50-MW share of the 483-MW Sandy Ridge Wind project in Pennsylvania, and also has made plays for solar, natural gas and utility assets. Algonquin's utility companies serve more than 335,000 customers and its competitive business includes 23 renewable energy facilities and several thermal energy facilities representing more than 460 MW. Goldwind, one of China's largest wind manufacturers, has engaged in an aggressive push to do business internationally following a slowdown in its domestic wind market. The company built its first US demonstration project in 2010, a 4.5-MW wind installation in Pipestone, Minnesota. It now has wind farms operating or in development in several states, including Minnesota, Montana, Illinois, Massachusetts, New York, Rhode Island, Iowa and Ohio. Algonquin said that discussions are continuing with Goldwind on the Illinois wind farm, and there is no certainty that the parties will reach a binding agreement.--Lisa Wood, newsdesk@platts.com--Edited by Lisa Miller, lisa_miller@platts.com