Algonquin Power & Utilities Corp. has started construction on the 26.4-megawatt (MW) Red Lily I wind project in southeastern Saskatchewan, Canada. The turbines for the project are being supplied by Vestas through its Vestas Canadian Wind Technology Inc. subsidiary and the project is owned by Concord Pacific Group, which will make an equity investment of approximately CAN $19 million in the development of the project.

Total capital investment for the project is expected to be CAN $67.5 million. In addition to the $19 million of equity investment, the project costs will be financed with $31 million of senior debt provided by Integrated Private Debt Fund II LP and $17.5 million of senior and subordinated debt provided by Algonquin Power Co. (APCo).