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Excelsior to buy 109 MW of Nebraska wind capacity from Invenergy

Wind farm in US. Author: Penny Higgins. License: Creative Commons. Attribution-ShareAlike 2.0 Generic

November 7 (Renewables Now) - US renewable energy infrastructure investor Excelsior Energy Capital has agreed to acquire 90.1% of the sponsor equity interests held by Chicago-based developer Invenergy in two wind projects totalling 109 MW.

Specifically, Excelsior’s North American Renewable Energy Fund will buy the controlling interests in the Prairie Breeze II and Prairie Breeze III wind farms, located in Antelope and Boone Counties, Nebraska. Invenergy will continue to be a non-controlling part-owner in the plants and will provide operations and maintenance (O&M) and asset management services through a subsidiary.

Prairie Breeze II and Prairie Breeze III initiated operations in late 2015 and early 2016, respectively. They have 25-year power purchase agreements (PPA) in place with Lincoln Electric Systems and City of Grand Island.

The transaction is seen to be completed next month. Bank of America Merrill Lynch is the tax equity investor in the projects, the announcement says.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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