One of the largest wind farms in the world and a pioneering venture in northcentral Oregon is selling for $700 Million.
The Shepherd’s Flat Wind Farm, located in Gilliam and Morrow County, was constructed in 2012. The site was the product of a $1.3 Billion partial loan guarantee from the Dept. of Energy in 2010.
Owner Caithness Energy is selling to Brookfield Renewable Partners which is headquartered in Toronto, Canada. Brookfield Renewable Partners is valued at $30.9 Billion.
The Portland Business Journal reports that Brookfield made the announcement on an earnings call in February and that state regulators recently approved of the deal.
Brookfield plans to upgrade the wind turbines with new technology, including larger and lighter blades. The company believes that they can increase productivity by 25%.
The Shepherd’s Flat Wind Farm produces 845 Megawatt Hours (MW) and an estimated 1.8 Million MW a year.