GPP formed Gulf Plains Wind, LLC to acquire the interest in REP from GE Energy Financial Services and from (EGPNA) which has retained a 20 pct stake in REP and will continue to operate the Portfolio. Financial terms of the transaction were not disclosed.
The Portfolio includes the 235 MW Chisholm View facility in Grant and Garfield Counties, Oklahoma; the 200 MW Prairie Rose facility in Rock and Pipestone Counties, Minnesota; the 200 MW Goodwell facility in Texas County, Oklahoma; the 150 MW Origin facility in Murray and Carter Counties, Oklahoma; and the 27 MW St. Lawrence facility in Newfoundland, Canada, all of which have term PPAs in place.
Hogan Lovells acted as legal counsel and CohnReznick Capital acted as financial advisor to GPP on the transaction. (Source: Harbert Management Corporation, PR, 18 Dec., 2019) Contact: HMC, (205) 987-5500, firstname.lastname@example.org,
www.harbert.net; Gulf Pacific Power, https://privatefunddata.com/private-funds/gulf-pacific-power-llc
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The project is a JV between Quinbrook and Elawan Wind, US, and was constructed by Florida-based firm Wanzek Construction.
The project was financed with equity investments from Quinbrook and Elawan along with tax equity investments from a consortium comprising of GE Energy Financial Services and JP Morgan.
To be initially operated under a GE Full Service Operations and Maintenance (O&M) Agreement, Persimmon is reported to be the first project to be completed by the Boulder, Colorado-based wind energy developer and owner-operator Scout Clean Energy.
(Source: Quinbrook Infrastructure Partners, power Tech, 13 Sept., 2018) Contact: Quinbrook Infrastructure Partners, (713) 580- 8022, www.quinbrook.com; Scout Clean Energy, Micheal Rucker, Pres., (303) 284-7566, email@example.com, www.scoutcleanenergy.com
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Phase one includes construction and installation of of 73, 2.5MW and 7, 2.3MW GE wind turbines.
GE Energy Financial Services will provide $190 million in tax equity financing for the project and has served as a bookrunner, administrative agent and lender for $252 million of credit facilities.
Quinbrook recently acquired a 75 pct controlling interest in Persimmon and formed a joint venture with Elawan Wind -- formerly Gestamp Wind -- the initial developer of the project.
When fully operational, the Persimmon wind farm is expected to generate about 900,000MWh of power per year.
Quinbrook and Elawan claim to have secured long-term PPAs with an investment grade counterparty to support the overall financing.
(Source: Quinbrool, Kallanish, CTBR, 17 Jan., 2018) Contact: GE Renewable Energy, Pete McCabe, President & CEO Onshore Wind Business, www.ge-energy.com Quinbrook Shawn Cumberland, Managing Dir., (713) 580-8022, www.quinbrook.com; GE Energy Financial Service, www.geenergyfinancialservices.com;
Elawan Wind, www.elawan.com/en/business/wind-farms.
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The wind park has two separate power purchase agreements (PPAs) in place -- An international firm will buy 100 MW of the generated electricity for 15 years, while US retail giant Walmart Stores Inc (will purchase the other 50 MW under a 12-year deal.
(Source: Akuo Energy, Renewables Now, Others, 30 Oct., 2017) Contact: Akuo Energy, +33 1 47 66 09 90, firstname.lastname@example.org, www.akuoenergy.com
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Thunder Ranch wind farm requires $435m investment and after the tax equity agreement, the two passive investors will receive 100 pct of Class B and Class C equity share in the project. (Source: Enel Green Power, CTBR, Others, 9 Oct., 2017) Contact: GE Energy Financial Services, Kevin Walsh, Managing Director Renewable Energy, http://geenergyfinancialservices.com;
Enel Green Power NA, Connor Branch, Bus. Dev., (978) 681-1900, www.enelgreenpower.com
More Low-Carbon Energy News GE Energy Financial Services, Enel Green Power North America, Wind,
GEEFS presently invests about $2 billion to $3 billion each year -- $1 billion to $1.5 billion of which goes to renewable energy projects in 17 countries, including Mexico, Canada, India, Japan and France. Wind energy accounts for 75 pct of the total, 18 pct goes to solar and 7 pct for renewable technologies. Recent wind investments include the first U.S. offshore wind farm, located a few miles from Block Island, R.I., and the Merkur wind farm in the North Sea off the coast of Germany.
GEEFS invests primarily in projects that use GE equipment. (Source: GE Energy Financial Services , Stamford Advocate, 11 June, 2017) Contact: GE Energy Financial Services, Kevin Walsh, Managing Director Renewable Energy, http://geenergyfinancialservices.com
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The $640 million Cimarron Bend wind farm, the largest wind farm in Enel's global portfolio, is owned by EGPNA Renewable Energy Partners LLC, an equally owned joint venture between EGPNA and GE Energy Financial Services.
According to EGPNA, Cimarron Bend can generate sufficient energy for over 149,000 U.S. households and around 1.3 million mtpy of CO2. In addition to Cimarron Hills,
EGPNA owns four other wind farms totaling 1.1 GW in Kansas.(Source: Enel Green Power North America NA, Wind Power, Others, 31 Mar., 2017)
Contact: Enel Green Power North America, Rafael Gonzalez, CEO, (978) 681-1900, www.enelgreenpower.com;
GE Energy Financial Services, http://geenergyfinancialservices.com
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Greencoat Capital LLP is the investment manager to Greencoat UK Wind PLC, a sector-focused infrastructure fund invested in UK wind generation assets and listed on the London Stock Exchange's main market. Greencoat UK Wind is currently invested in 18 wind farms, both onshore and offshore, with net generating capacity of 400.1MW. The assets have produced over 2,000GWh of power to date.(Source: Greencoat UK Wind, RENews, 27 Mar., 2017)Contact: Greencoat UK Wind, www.greencoat-ukwind.com
More Low-Carbon Energy News Greencoat, Wind,