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Teck announces sale of Wintering Hills wind power facility to Ikea

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Picture of Ikea Canada store.

Ikea Canada now owns the Wintering Hills wind power facility, located near Drumheller, Alberta. — Photo: Ikea

Teck Resources Limited recently announced that it has entered into an agreement to sell its 49 per cent interest in the Wintering Hills wind power facility to IKEA Canada for CAD $58.6 million.

The joint owner, TA Wintering Hills L.P., a subsidiary of TransAlta Corporation, has also announced the sale of its 51 per cent interest to IKEA Canada.

Wintering Hills is an 88 megawatt (MW) wind power facility located near Drumheller, Alberta, and was commissioned in 2011. The transaction is expected to close in February 2017, subject to the satisfaction of customary closing conditions. Barclays Canada acted as financial advisor to Teck.

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