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Bankers Commercial closes tax equity deal for Okla. wind farm

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Bankers Commercial closes tax equity deal for Okla. wind farm

Bankers Commercial Corp. on Dec. 14 closed its purchase of 100% passive, noncontrolling class B interest in the 108.8-MW Drift Sand wind farm in Oklahoma.

One day after, the MUFG Americas Holdings Corp. subsidiary assigned 49.01% if its class B membership stake in the project to Citizens Asset Finance Inc., according to a Dec. 23 notice of consummation. FERC approved the transaction Nov. 15.

The Grady County-based facility will sell power to Arkansas Electric Cooperative Corp. under a 25-year power purchase agreement. An Enel Green Power North America subsidiary owns a roughly 35% class A ownership stake and will manage the day-to-day operations of the facility. The remaining ownership interests are held by a General Electric Co. subsidiary.

Enel Green Power is a subsidiary of Enel SpA. (FERC Docket No. EC16-186)