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Allco Finance Group (AFG) and a consortium comprising the U.S.-based ArcLight Capital Partners and Terra-Gen Power have agreed to the sale and purchase of U.S. wind energy interests for a total sale price of $325 million. The interests being sold comprise a 3,100 MW wind development project in Tehachapi, Calif.

"In Tehachapi, we have benefited greatly from our relationship with our development partner, Oak Creek Energy Systems, a subsidiary of Japanese Marubeni Corp., who has played a pivotal role in the development of the project to date," says Steen Stavnsbo, Allco's head of wind energy.

The Tehachapi wind development project is supported by a 1,550 MW power purchase agreement with Southern California Edison that was negotiated and announced by Allco in December 2006.

SOURCE: Allco Finance Group



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