A joint venture of Philippine-based ACEN Corp (PSE:ACEN) has acquired a 38-MW wind farm in Pennsylvania from EDF Renewables North America, the listed energy platform of conglomerate Ayala Group said on Wednesday.
The Chestnut Flats park was bought by UPC Power Solutions LLC, an entity which ACEN owns together with PivotGen and UPC Solar & Wind Investments. Financial details about the transaction were not disclosed.
The Chestnut Flats wind farm is located near Altoona, Blair County, and has been generating electricity since 2011. The project was developed and installed by Gamesa Energy USA LLC and was acquired by EDF Renewables in the year of its commissioning.
The output of the 19-turbine park is sold to Delmarva Power and Light Company under a 20-year contract.
Following the sale to UPC Power Solutions, EDF Renewables will continue to provide asset management for the wind farm and oversee its operations.
“The addition of this high-quality renewable asset will support our long-term strategy to build a diversified fleet of operating wind projects,” said Tim Rosenzweig, chief executive officer of UPC Power Solutions. At present, the company has an operating renewable portfolio in the US of over 170 MW.
