enXco, an EDF Energies Nouvelles Company, announced today it has signed a purchase agreement to acquire from Gamesa Energy USA, LLC, 100% of the equity interest in Chestnut Flats Wind, LLC and all project assets owned by the special purpose company. Full ownership will transfer to enXco, subject to satisfaction of customary closing conditions, which is expected by the end of 2011.
Chestnut Flats Wind, developed and built by Gamesa Energy USA, LLC, is located in Logan Township, Blair County, northwest of Altoona, Pennsylvania. The project utilizes 18 G90 and one G87 Gamesa turbines with a rated capacity of two megawatts. Delmarva Power and Light Company, a subsidiary of PHI, will purchase the energy produced under a 20-year Power Purchase Agreement.
Tristan Grimbert, President & CEO of enXco, stated, "We are very pleased to bring Chestnut Flats Wind into our growing generation portfolio. This marks our first operational wind asset in Pennsylvania and we look forward to developing a long-term relationship with the landowners and local community. This further represents our first opportunity to build a relationship with Delmarva and deliver renewable energy to their northeast customer base."
"With the sale of the Chestnut Flats project to enXco, Gamesa continues to demonstrate our capabilities not just as a world leader in the manufacture of wind turbines but also as an industry leader in the development, construction and sale of wind farms here in North America," said Jiddu Tapia, Gamesa’s Chief Development Officer for North America.
