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JPM Capital to acquire interest in 99-MW ND wind farm


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JPM Capital to acquire interest in 99-MW ND wind farm

Capital Power Corp. is proposing to sell 100% of the Class A membership interest in the 99-MW Meadowlark Wind Farm in McHenry County, N.D., to JPM Capital Corp. as part of a tax equity investment transaction.

According to an Oct. 16 application with the Federal Energy Regulatory Commission, the wind farm is expected to start commercial operation in December. The commission is requested to authorize the transaction by Dec. 3. (FERC docket EC19-12)

Output of the wind facility will be sold at wholesale into the Midcontinent ISO real-time or day-ahead energy market. Under a long-term commodity swap agreement with Morgan Stanley Capital Group Inc., the facility will swap the floating day-ahead price established at a nearby MISO market hub for a fixed price payable by MSCG for a fixed amount of energy established on a hourly basis. The contract covers 87% of the facility's expected output.