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Enel Green Power reduces stakes in two US wind farms to 51%

CTBR Staff Writer Published 05 January 2016

Enel Green Power is divesting 24% stakes in the 235MW Chisholm View wind farm in Oklahoma and the 200MW Prairie Rose wind park in Minnesota to GE Energy Financial Services.


The North American unit of the Italian renewables firm has received close to $74m for its minority stakes in the two wind farms.

Enel Green Power North America (EGPNA) now has 51% stakes in both wind farms, while GE Energy Financial Services holds the remaining 49% interests.

Operational since December 2012, the Chisholm View and Prairie Rose wind facilities required investment of around $375m and $305m respectively.

Commenting on the sale, Enel Green Power CEO and general manager Francesco Venturini said: "This transaction strengthens the strategic partnership formed last March between EGP and GE Energy Financial Services.

"At the same time, the sale is part of our strategy to actively manage assets in a way that contributes to diversification and growth opportunities both in North America and elsewhere around the world."

The companies' stakes in the wind farms have been placed into the joint venture (JV) EGPNA Renewable Energy Partners, which is 51% owned by Enel Green Power and 49% by GE Energy Financial Services.

Currently, the JV has a 760MW portfolio of operating wind, geothermal, hydropower, and solar generation assets.

Enel Green Power recently commenced construction on Ituverava solar power plant in Bahia, Brazil.

Upon completion, Ituverava will have a total installed capacity of 254MW.

Owned by three special purpose vehicles held by Enel Green Power Brasil Participações, the solar power generating facility will become operational by the end of 2017.

Image: Enel Green Power has an installed capacity of more than 10,000MW from a mix of sources including wind, solar, hydropower, geothermal and biomass. Photo: courtesy of Photokanok / FreeDigitalPhotos.net.