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FERC clears EDF Renewables to sell equity stake in Okla. wind farm

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FERC clears EDF Renewables to sell equity stake in Okla. wind farm

The Federal Energy Regulatory Commission approved EDF Renewable Energy's application Dec. 21 to sell a class A nonmanaging stake in the 154.6-MW Rock Falls wind farm to JPMorgan Chase & Co. and Bank of America Corp.

Under the transaction, JPMorgan Chase subsidiary JPM Capital Corp and Bank of America subsidiary BAL Investment & Advisory Inc. will each purchase a class A 50% equity stake in the wind farm, located in Grant County, Okla., "for an amount in excess of $10 million," while the EDF Group subsidiary will retain the controlling class B stake.

The facility is under contract to sell 120 MW of its output to Kimberly-Clark Corp. EDF Renewable brought the power plant online earlier this month. (FERC docket EC18-15)