Samsung Renewable Energy completes sale of its equity interest in K2 Wind to the Axium Consortium

Date Closed

August 05, 2016

Lead Office

Toronto

On August 5, 2016, a consortium composed of Axium Infrastructure (Axium), Alberta Teachers' Retirement Fund Board (ATRF) and Manulife Financial Corporation (Manulife), completed the acquisition of Samsung Renewable Energy's one-third interest in the K2 Wind Facility (K2). The remaining two-thirds interest is held, in equal proportion, by Pattern Energy Group Inc. and Capital Power Corporation.

K2 is a 270 MW wind power facility located near Goderich, Ontario, which achieved commercial operation in May 2015. The wind facility is comprised of 140 Siemens SWT-2.3 101 wind turbines. The project operates under a 20-year power purchase agreement with the Independent Electricity System Operator (IESO).

McCarthy Tétrault LLP represented Samsung Renewable Energy Inc. with a team led by Seán O’Neill that included Kerri Lui, Diego Beltran, Suzanne Murphy, William McCullough, and Nigel Johnston.

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