Brookfield claims victory in Western Wind bid

Tehachapi, where Western Wind owns capacity

Tehachapi, where Western Wind owns capacity

Brookfield Renewable Energy Partners says it has emerged successful in its hostile bid for Western Wind Energy, ostensibly putting an end to a long, nasty and public takeover battle.

Brookfield says that owners of some 59.7% of Western Wind’s shares have agreed to its C$2.60 ($2.56) per share takeover offer, bringing its total stake in the Vancouver-based developer to more than 66%.

Western Wind owns 154.5MW of wind capacity in California, including the 120MW Tehachapi project in an area of ageing wind farms undergoing significant repowering. In addition, Western Wind owns a 10.5MW combined solar and wind project in Arizona, and is developing a consented 30MW PV array in Puerto Rico.

The shares Brookfield has agreed to buy are worth about C$92m, Log in to read complete article.

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