FERC oks Buffalo Dunes deal
Enel Green Power North America says the Federal Energy Regulatory Commission has authorized it to purchase an additional 26% of “Class A” interests in the 249.75MW Buffalo Dunes wind farm in Kansas for $60m from a subsidiary of GE Capital.
With FERC’s approval, the transaction will now close.
Enel Green Power North America will then own 75% of the “Class A” interests in the company operating the wind farm, while the GE Capital subsidiary will remain as a passive investor with a 25% stake.
Buffalo Dunes began full commercial operation last December. It exports 202MW of its nameplate capacity under long-term contract to Alabama Power, a subsidiary of Southern Company.
Governor Sam Brownback has encouraged developers to export electricity to the US Southeast as Kansas has far more wind energy resource than it can utilize internally.