Terms of the transaction were not made public, which requires approval by the Federal Energy Regulatory Commission (FERC) and is subject to other customary closing conditions. MIC hopes to conclude the deal later this quarter.
Scatec commissioned Utah Red Hills last December. It has a 20-year power off-take agreement with PacifiCorp, a unit of billionaire Warren Buffett’s Berkshire Hathaway Energy. The PPA is scheduled to begin this December.
PacifiCorp
