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Enel adds Red Dirt muscle

MUFG, Allianz pour $340m into 300MW Oklahoma project

Enel adds Red Dirt muscle image

Mitsubishi UFJ Financial Group and Allianz have invested $340m in Enel's 300MW Red Dirt wind farm in Oklahoma.

Through a so-called tax equity agreement, the investors have acquired 100% of the wind farm's "B" shares. Enel has kept the "A" shares and therefore retained management control.

Construction of Red Dirt, which Italy's Enel estimates will cost $420m, commenced in April.

Its completion is slated for the end of 2017.

Image: Enel

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