Creststreet sells Kettles Hill Windpower subsidiary for $163 million to ENMAX

Client

The Manufacturers Life Insurance Company

Date

June 2008
On June 26, 2008, Creststreet Kettles Hill Windpower LP completed the sale of Kettles Hill Wind Energy Inc. to ENMAX Green Power Inc., a subsidiary of ENMAX Corporation, in a deal worth $163 million, including debt.

Kettles Hill Wind Energy Inc. is the owner and operator of a wind farm located near Pincher Creek, Alberta, that includes 35 turbines with a current capacity of 63 megawatts. The wind farm has potential for a further 77 megawatts.

The Manufacturers Life Insurance Company, lender to Kettles Hill Wind Energy Inc., was represented by Ella Plotkin and Mark Lefler of Fasken Martineau.