Asset investment firm Fengate Capital Management has executed a purchase andsale agreement to acquire a 25% stake in the 120-MW wind project from aCitigroup Inc.subsidiary.
The deal marks Fengate's first investment in a wind project,according to a company statement. The firm currently owns solar, hydro, andbiomass projects in Canada and the United Kingdom.
NRG EnergyInc. and NRG YieldInc. hold the remaining 75% ownership stake in San Juan Mesa,according to SNL Energy data.
Located in Roosevelt County, N.M., the facility sells powerto Xcel Energy Inc.subsidiary Southwestern PublicService Co. under a long-term agreement. Parties involved in thetransaction are seeking FERC approval by May 12. (EC16-100)