in News Departments > New & Noteworthy
print the content item

ENEL Green Power North America (EGP-NA) signed an agreement to purchase, from a GE Capital subsidiary, an additional 26% of the company operating the 235 MW Chisholm View wind farm for approximately $47 million.

EGP-NA has also signed an agreement to purchase, from a GE Capital subsidiary, an additional 26% of the company operating the 200 MW Prairie Rose wind farm for approximately $34 million.

The transactions are subject to Federal Energy Regulatory Commission approval.

After closing, EGP-NA will own 75% of the “Class A” interests of both companies operating the wind farms, while the GE Capital subsidiaries will remain as investors with a 25% stake.

The Chisholm View wind farm, located in Garfield and Grant Counties, Okla., has been operational since December 2012. The plant required a total equity investment of approximately $375 million and is supported by a long-term power purchase agreement (PPA).

In June 2012, EGP-NA and EFS Chisholm, LLC signed a capital contribution agreement with a syndicate led by J.P. Morgan, that includes Wells Fargo Wind Holdings LLC and Metropolitan Life Insurance Co., whereby the syndicate funded approximately $220 million for the project.

The Prairie Rose wind farm, located in northern Rock County, Minn., has been operational since December 2012. The Prairie Rose wind farm required a total equity investment of approximately $305 million and is supported by a long-term PPA.

In August 2012, EGP-NA and EFS Prairie Rose signed a capital contribution agreement with a syndicate led by J.P. Morgan, that includes Wells Fargo Wind Holdings LLC and Metropolitan Life Insurance Co., whereby the syndicate funded approximately $190 million for the project.

Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Canwea_id1984
Renewable NRG_id1934