December 16 (Renewables Now) - Power infrastructure investor Gulf Pacific Power LLC (GPP) has closed the purchase of a majority stake in the owner of an 812-MW wind farm portfolio in the US and Canada.
Specifically, GPP, through Gulf Plains Wind LLC, has acquired an 80% stake in EGPNA Renewable Energy Holdings LLC (REP) from GE Energy Financial Services and the North American renewables unit of Italian utility Enel SpA (BIT:ENEL). The latter will retain a 20% stake in REP through Enel Green Power North America Inc (EGPNA).
The portfolio in question is comprised of five operating wind parks, including: 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. Each of the plants has a long-term power purchase agreement (PPA) in place.
GPP, which is backed by commitments from the California Public Employees’ Retirement System (CalPERS) and affiliates of Harbert Management Corporation (HMC), also has an existing 80/20 partnership with EGPNA for the 350-MW Rocky Caney Wind portfolio of projects in Kansas and Oklahoma.