Atlantic Power Corp. (NYSE: AT) signed an agreement to sell its wind generation portfolio to TerraForm Power Inc. for $350 million.
The operating wind plants, which have a generating capacity of 521 MW, are indirectly owned by Atlantic Power Transmission Inc., a subsidiary of the company. TerraForm AP Acquisition Holdings LLC, an indirect subsidiary of TerraForm, will acquire the plants. The five projects in Idaho and Oklahoma are: Goshen North, Idaho Wind, Meadow Creek, Rockland Wind Farm and Canadian Hills.
The sale is subject to customary closing conditions and regulatory approvals from the Federal Energy Regulatory Commission, antitrust approvals under the Hart-Scott-Rodino Act, and other approvals. Goldman, Sachs & Co. was the financial advisor to Atlantic Power. Morgan, Lewis & Bockius LLP served as legal counsel.
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