A vehicle of US investment group Harbert Management Corporation (HMC) has bought an 80% stake in an 812MW wind portfolio from Enel Green Power North America and GE Energy Financial Services.
HMC’s Gulf Pacific Power (GPP) affiliate paid an undisclosed sum for the portfolio, which includes the 235MW Chisholm View wind farm in Oklahoma and the 200MW Prairie Rose in Minnesota.
Enel Green Power North America will retain a 20% shareholding and will continue to operate the projects, said a statement announcing the transaction.
The deal marks the second in two years between GPP and Italy-based global clean energy giant Enel, which is among the biggest developers of onshore wind in the US – and is adding to that with an increasing solar footprint.
In 2017 GPP – which is backed by the California Public Employees’ Retirement System – bought 80% of a 350MW wind portfolio consisting of projects in Kansas and Oklahoma.
Enel recently unveiled its latest 2020-22 strategic plan, which will see its annual renewables additions leap to an average 4.7GW, up from the 3GW it will install in 2019.