Cordelio Power acquires 350MW wind farms in Illinois from Swift Current
Cordelio Power, a Canadian renewable energy company, has acquired a couple of wind projects under development – the Glacier Sands and Moraine Sands in central Illinois with a combined capacity of more than 350MW.
The Glacier Sands and Moraine Sands wind farms have been acquired from Swift Current Energy and are slated to enter into commercial operations in 2021 and 2022, respectively.
Swift Current Energy has agreed to work with Cordelio Power for advancing the two wind projects under a development services agreement.
Nick Karambelas – Cordelio Power Chief Commercial Officer said: “We are pleased to start the next phase of our growth, and to be working with the Swift Current team.
“These projects represent our opportunity to help Illinois meet its clean power goals while making a positive impact on Mason County and its local communities.”
The Glacier Sands project is under contract for a part of its output for a duration of 14 years.
Cordelio Power acquires 350MW wind farms in Illinois from Swift Current Energy. Photo courtesy of Pexels from Pixabay.
Matt Birchby – a Partner at Swift Current Energy said: “The Swift Current Energy team is excited to have Cordelio Power acquire these high impact wind projects.
“We look forward to working closely with Cordelio on these projects to bring clean, home-grown energy, and the good jobs and economic opportunity that come with them, to Illinois.”
Swift Current Energy’s advisor for the deal was KeyBanc Capital Markets.
Cordelio Power, which is fully owned by Canada Pension Plan Investment Board (CPP Investments), has a renewable generation portfolio of over 1GW.