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FERC approves EDP Renewables' sale of 80% stake in 2 wind farms to Axium

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FERC approves EDP Renewables' sale of 80% stake in 2 wind farms to Axium

The Federal Energy Regulatory Commission has approved EDP Renewables North America's sale of 80% class A managing interests in two wind farms to a fund managed by Axium Infrastructure US Inc.

The fund will purchase the stake in the 200-MW Meadow Lake VI project in White and Benton counties, Ind., and the 200-MW Prairie Queen project in Allen County, Kan., according to federal regulatory filings.

Meadow Lake VI was expected to reach commercial operation in November. It will sell a portion of its output to Wabash Valley Power Association Inc. under a 20-year power contract, while the remaining output will be sold at wholesale to one or more unaffiliated third parties. Prairie Queen is expected to reach commercial operation in April 2019 and sell its output to Evergy Inc. under a long-term agreement. (FERC docket EC19-21)

In a separate transaction, the EDP - Energias de Portugal SA subsidiary is selling its 100% class B, nonmanaging interests in the two projects to Allianz Renewable Energy Partners or an affiliate of Allianz and Citicorp North America Inc. The commission signed off on the transaction in October. (FERC docket EC18-142)