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FERC clears Algonquin Power deal for Mich. wind farm stake

Algonquin Power & Utilities Corp. has earned FERC approval to become the sole owner of class B membership interests in the planned 149-MW Deerfield wind facility in Michigan.

In a Dec. 21 decision, FERC allowed Algonquin Power to acquire the remaining 50% stake in the Huron County-based project from RES Group unit RES America Developments for an undisclosed sum. The commission also approved BAL Investment & Advisory Inc. and Citizens Asset Finance Inc.'s bids to become tax equity investors by acquiring 100% of the class A passive interests in the facility.

The facility will sell its output to Wolverine Power Supply Cooperative Inc. under a 20-year power contract. (FERC docket EC17-31)