Salka has announced the execution of a purchase and sale agreement for an in-development wind farm in the east San Francisco Bay Area called the Summit Wind Project. The agreement was signed with Castlelake, a global private investment firm. The project will repower a former Altamont Pass wind farm by replacing 569 one-hundred-kilowatt turbines with 27 modern turbines.
The Summit repowering project received its conditional use permit in January 2016, and broke ground in December 2016, with completion and operation planned for late 2017 or early 2018. Located in the Altamont Pass Wind Resource Area near Livermore, CA, the planned 55MW wind farm is just 35 miles outside Oakland and 45 miles outside San Francisco. The purchase and sale transaction is expected to close in the summer. Salka will continue to manage the development and construction of the project until it achieves commercial operations, at which point funds managed by Castlelake will own and operate the wind farm.