Edmonton-based Capital Power to proceed with U.S. wind farm

Edmonton-based Capital Power (TSX:CPX) says it has decided to go ahead with a $182-million wind farm in North Dakota.

The company expects the 99-megawatt New Frontier Wind project to begin construction immediately and start commercial operation in December of 2018.

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READ MORE: Ikea Canada to buy second Alberta wind farm in $119M deal

Capital Power says it signed a deal this week with a U.S. financial institution to swap power sale returns from the facility for a fixed price payment over 12 years, thus securing long-term predictable revenues.

The project was acquired in a suite of renewable power opportunities in 2014 from Element Power US.