First Wind, Emera Form Joint Venture to Operate U.S. Wind Farms

Emera Inc. (EMA), a Canadian energy company, formed a joint venture with First Wind Holdings Inc. to operate wind farms in the U.S. Northeast.

First Wind transferred its portfolio of wind projects to the new venture, Northeast Wind Partners, the Boston-based renewable-energy developer said in a statement today.

Emera invested $211 million in the venture and will own 49 percent of it. First Wind owns the remainder.