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US Bancorp to buy passive stake in 51-MW Maine wind project

US BancorpInc. is seeking FERC approval to acquire 100% class A interests inthe planned 51-MW Hancock wind project in Hancock County, Maine.

The company noted in its Sept. 20 application with FERC thatit may seek additional tax equity investors to participate in the transaction.

Hancock is expected to go online in the fourth quarter. Itwill sell 37.5 MW to the Massachusetts Municipal Wholesale Electric Co. under a25-year contract and the remaining 13.5-MW to the city of Burlington, Vt.,under a 10-year contract.

The managing interests in the project are held by asubsidiary of IIF US Holding 2 LP, an infrastructure fund managed andcontrolled by IIF US Holding 2 GP LLC.

FERC has been asked to approve the transaction by Oct. 21.(EC16-185)