Enel to sell 80% stake in US wind farm company
Enel said that it plans to sell 80% of its Class A shares in Rocky Caney Wind, the owner of 350 MW of wind power generating capacity in Oklahoma and Kansas. Enel Green Power North America aims to close the deal by the close of the year and will retain a 20% stake in the plant and continue to operate the facilities following the transaction.
Italian utility Enel SpA (BIT:ENEL) said today that its US renewables arm will sell an 80% stake in the owner of 350 MW of wind power generating capacity in the states of Kansas and Oklahoma.

Specifically, Enel Green Power North America Inc (EGPNA) has entered into a cash equity agreement to sell 80% of the Class A shares in Rocky Caney Wind LLC to investment fund Gulf Pacific Power LLC for about USD 233 million (EUR 196m).

The transaction is seen closing by the end of the year. It will allow the Italian group to deconsolidate some USD 140 million worth of debt, Enel noted.

Rocky Caney Wind is the owner of the 200-MW Caney River wind farm in Elk County, Kansas and the 150-MW Rocky Ridge wind park in Kiowa and Washita Counties, Oklahoma. Caney River sells its power output to the Tennessee Valley Authority, while Rocky Ridge sells it to the Western Farmers Electric Cooperative.

Aside from retaining a 20% stake, EGPNA will also continue to manage, operate and perform maintenance activities at both plants after the transaction wraps up.

(USD 1.0 = EUR 0.841)

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