Enel sells 350MW US stakes
80% interest offloaded in Caney River and Rocky Ridge wind farms
Enel Green Power North America has agreed to sell investment fund Gulf Pacific Power 80% stakes in the 200MW Caney River and 150MW Rocky Ridge wind farms in Kansas and Oklahoma, respectively.
The deal is priced at approximately $233m, which will be paid when the transaction closes by the end of the year.
Enel Green Power will retain a 20% interest in the projects and continue to manage, operate and maintain both wind farms.
Caney River is located in Elk County and has been operating since 2011. It sells electricity to the Tennessee Valley Authority.
Rocky Ridge, which is in Kiowa and Washita counties, came online in 2012 and supplies the Western Farmers Electric Cooperative.
Enel Green Power head Antonio Cammisecra said: “Today’s agreement with a new investment partner reinforces the success and confirms the appeal of our continued industrial growth strategy throughout the ‘build, sell and operate’ model with the aim to support new growth opportunities both in North America and other markets around the world.”