Enel seeks approval for passive investors in almost-operational wind project

Little Elk Wind Project LLC, which has a nearly-operational wind farm in Oklahoma, applied Oct. 6 to the Federal Energy Regulatory Commission for approval of the acquisition by Bankers Commercial Corp. and one or more unidentified investors of non-controlling, passive equity interests in Little Elk Wind.

For commercial and tax reasons, the parties to the transaction intend to consummate this deal before the end of 2015.

Little Elk Wind’s project has a nameplate rating of 74 MW and is located in Kiowa and Washita counties, Oklahoma. The Little Elk Project is interconnected with Western Farmers Electric Cooperative within the Southwest Power Pool balancing authority area. The project is expected to begin testing in Fall 2015 and to enter commercial operation in December 2015.

Applicant has applied to the commission for market-based rate authority and has self-certified as an exempt wholesale generator. It is committed to sell the full output of the Little Elk Project under a 25-year power purchase agreement with People’s Electric Cooperative of Oklahoma.

Little Elk Wind is controlled by Enel Green Power North America Inc., which is a wholly-owned subsidiary of Enel Green Power International BV, a company organized under the laws of the Netherlands.

Bankers Commercial is a wholly-owned non-bank subsidiary of MUFG Americas Holdings Corp., a bank holding company headquartered in San Francisco, California.

A company contact is: Stephen Champagne, Executive Vice President & General Counsel, Enel Green Power North America Inc., One Tech Drive, Suite 220, Andover, MA 01810, Telephone: (978) 296-6812, steve.champagne@enel.com.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.