Pittsburgh, January 11, 2023 - Exus Management Partners (Exus), a leading expert in powering sustainable investments through operational excellence, has been selected by Ingka Investments (Ingka) to provide their full range of asset management services for the Oldman 2 and Wintering Hills wind farms in Alberta, Canada, totaling 134MW.
Historically renowned for Canadian oil and gas, Alberta, with its strong and steady winds, is now at the forefront of the country’s renewables development efforts. The province led Canada in new wind capacity in 2021 and, in 2022, saw billions in private sector investment as it continues the industry trend of embracing larger, more advanced turbines.
The deal brings Exus’ total Canadian assets under management to 850MW, while extending Exus’ partnership with Ingka Investments into its second North American country. This follows Exus’ previous appointment as asset manager on the Misae and Sage solar projects in Texas and Utah, totaling 400MW which are part owned by Ingka Investments, the investment arm of Ingka Group, a strategic partner in the IKEA franchise system.
The five-year initial term will enable Exus to fully demonstrate their scope of asset, operations, maintenance and project management services in the Canadian market, applying the latest wind technology to increase annual energy production and extend asset life.
Dhaval Bhalodia, Partner and Head of Asset Management North America at Exus, said, “With the Canadian market experiencing a surge of interest in renewables, we look forward to strengthening our partnership with Ingka Investments as they deliver clean energy to the North American market and beyond."
“In our role as asset manager we look to draw on our experience globally, with a focus on ensuring that the wind farms perform to their highest standards as we seek to optimize technical performance and deliver maximum value for our client.”
Willem Malda, Head of Operations Renewable Energy Portfolio at Ingka Investments, said, “We are pleased to extend our cooperation with Exus to include operations in the Canadian renewables market. Both projects require high levels of technical expertise to manage effectively, and we are confident that Exus’ in-house team of specialists will offer Ingka advice and complete oversight across the windfarms, enabling us to maximize returns for our investors.”