Exelon Generation Co. LLC has received approval from the Federal Energy Regulatory Commission to sell a minority stake in its ExGen Renewables Partners LLC affiliate to John Hancock Life Insurance Co. (USA), according to a June 6 order.
Under the transaction, the Exelon Corp. subsidiary will sell a 49% stake for approximately $400 million, but will maintain day-to-day control and operations of the assets.
The ExGen Renewables portfolio consists of 30 operational wind and solar projects totaling 1,296 MW. They represent roughly 35% of Exelon Generation's total renewable holdings and 4% of its total generation assets overall.
The yieldco owns wind generation facilities located in the PJM Interconnection, Midcontinent ISO, Southwest Power Pool markets, the Associated Electric Cooperative Inc. and Idaho Power Co. balancing authority areas. (FERC docket EC17-101)