Wind purchase

Mainstream Renewable Power has acquired a portfolio of wind-farm projects in the state of Illinois with a potential capacity of 787MW.

The company, headquartered in Ireland, acquired the assets from local wind-farm developer FPC Services in a deal that involves a capital investment of more than $1.69bn (£1bn) over a four-year period.

The portfolio comprises three separate projects at various stages of development.

The most advanced is the 120MW Shady Oaks project, located in Lee County, Illinois. Construction work on that project is due to begin next year, and when completed in 2010 it will generate enough electricity to power about 30,000 homes.

The other two projects include a 467MW project in Green River, which is also located in Lee County, and a 200MW project in Boone County.

The Illinois projects are Mainstream’s second North American transaction in three months, having announced the signing of a CAD$840m (£454m) joint venture deal with Canadian wind-farm developer, Alberta Wind Energy Corporation (AWEC) to build an initial portfolio of more than 400MW of wind-energy plants in Alberta by 2013.

The company has also announced plans to build a project in Chile in the coming months.