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Allen & Overy advises InfraRed Capital Partners on managed funds in acquisition of interests in Four Wind Farms

Allen & Overy (A&O) announced today its advisement of InfraRed Capital Partners’ (InfraRed) with respect to an agreement for funds it manages to acquire a stake in four wind assets across the U.S. and Canada totaling 726 MW of clean energy generation from Algonquin Power & Utilities Corp. (Algonquin).

InfraRed will acquire a 49% stake in three operating, utility-scale wind assets in the U.S. and an 80% stake in a Canada-based asset. The full portfolio comprises:

  • Deerfield, a 149 MW wind farm in Michigan;
  • Odell, a 200 MW wind farm in Minnesota;
  • Sugar Creek, a 202 MW wind farm in Illinois; and
  • Blue Hill, a 175 MW wind farm in Saskatchewan, Canada.

“Energy developers, producers, investors and lenders are accelerating efforts to diversify their energy mix and incorporate reliable, renewable energy solutions globally,” said Matt Nesburn, partner in A&O’s Global Projects, Energy, Natural Resources and Infrastructure (PENRI) practice group. “We look forward to advising more clients from all levels of the capital stack as they pursue impactful, cross-border transactions like this one that provide essential clean energy to global communities.”

The agreement will bolster InfraRed’s renewables portfolio by diversifying its geographic footprint and demonstrates InfraRed’s and Algonquin’s commitment to advancing the United Nations’ Sustainable Development Goals. Algonquin will continue to operate all four assets.

Led by Los Angeles partner Matt Nesburn, the A&O team included Washington, D.C. partners Sam Kamyans and Chip Cannon, Washington, D.C. associate Tyler Conte, Los Angeles associate Will Davis, and New York associates Jay Saxon, Sarah Li and Jake Ely.