ENEL GREEN POWER: FINALIZED EQUITY PARTNERSHIP AGREEMENT BETWEEN EGP NORTH AMERICA AND GE CAPITAL SUBSIDIARY EFS CHISHOLM
April 2 2012
The agreement relates to the development of the Chisholm View wind farm for an installed capacity a 235.2 MW located in Oklahoma, requiring a total equity investment of approx. 375 million US dollars.
EFS Chisholm will invest approx. 191 million US dollars whereas Enel Green Power North America will contribute approx. 184 million US dollars for a 49% stake in the project, which can increase by an additional 26% on specific dates in 2012 and 2013.
Rome - Boston, April 2nd, 2012 - Enel Green Power (EGP) announced the closing of an equity partnership agreement between EFS Chisholm, LLC, a subsidiary of GE Capital and its US subsidiary Enel Green Power North America, Inc. (EGP-NA) for the development of the Chisholm View wind project located in Oklahoma.
The project, which requires a total equity investment of approximately 375 million US dollars, will have a total installed capacity of 235.2 MW and is supported by a long term power purchase agreement (PPA).
Under the terms of the agreement, EFS Chisholm, will invest approximately 191 million US dollars for a 51% stake in the project whereas EGP-NA will contribute with approximately 184 million US dollars for a 49% stake.
EGP-NA has an option to further increase its stake up to a further 26% of EFS Chisholm equity on specific dates in 2012 and 2013.
The agreement is guaranteed by its Parent company Enel Green Power.
About Enel Green Power North America Inc.
Enel Green Power North America, Inc. (f/k/a Enel North America, Inc.), a subsidiary of Enel Green Power, is a leading owner and operator of renewable energy plants in North America with projects operating and under development in 21 U.S. States and 3 Canadian provinces. Enel Green Power North America owns and operates over 70 plants with an installed capacity of more than 1,000 MW powered by renewable hydropower, wind, geothermal, solar and biomass energy.