TransCanada Agrees To Sell Its 62% Share In Cartier Wind Power Facilities

(RTTNews) - Energy infrastructure company TransCanada Corp. (TRP, TRP.TO) announced Thursday that it has agreed to sell its 62 percent share of the Cartier wind power facilities, and its related operating entities, to Innergex Renewable Energy Inc. for about $630 million.

The Cartier assets, located in Québec, include five wind farms with a total generating capacity of 590 megawatts, of which TransCanada's share is 365 megawatts. The sale is expected to close in the fourth quarter of 2018, upon satisfaction of closing conditions.

Following the sale of Cartier, TransCanada will continue to be one of Canada's largest private-sector power generators, producing enough power to meet the needs of more than six million homes.