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Brookfield Renewable seeks FERC approval for joint venture with KKR

London's Brookfield Renewable Power Ltd. requested approval from the Federal Energy Regulatory Commission to acquire a 50% stake in Spanish solar and wind developer X-ELIO Energy SL.

As part of the transaction, Brookfield will acquire Madrid-headquartered ACEK Renewables' 20% stake in X-Elio and 30% of New York-headquartered investment firm KKR & Co.'s majority stake in X-Elio, the entities said in an Oct. 3 application with FERC.

The transaction will result in Brookfield Renewable Power entering into a 50/50 joint venture with KKR, which includes a 50% upstream stake transfer in several power plants to the Brookfield Asset Management Inc. subsidiary.

The power plants include the 40.5-MW TPW Petersburg wind project in Boone County, Neb.; the 180-MW Tatanka Wind plant in Dickey County, N.D.; the 40-MW Roth Rock Wind Project I and 10-MW Roth Rock Wind Project II (North) in Garrett County, Md.; the 123-MW Red Hills Farm in Roger Mills County, Okla.; the 198.6-MW Persimmon Wind Farm in Woodward County, Okla.; the 68.5-MW Nevada Solar One in Clark County, Nev.; the 700-MW Longview Power plant in Monongalia County, W.Va.; the 70-MW Lily Solar Plant in Allendale County, S.C.,; the 60-MW Flat Water Wind Farm in Richardson County, Neb.; the 100.5-MW EcoGrove Wind in Stephenson County, Ill.; the 132-MW Big Smile Wind Farm (Dempsey Ridge) in Roger Mills County, Okla.; the 67.5-MW Berlin Biomass-Energy Project (Burgess BioPower) in Coos County, N.H.; the 74.3-MW Blue Canyon Wind Farm in Comanche County, Okla.; and 83WI 8ME LLC, which owns and operates a 50-MW solar plant in Imperial County, Calif.

The applicants asked FERC to approve the transaction within 45 days. (FERC docket EC20-5)