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Capital Power receives FERC approval to sell stake in 99-MW ND wind farm

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Capital Power receives FERC approval to sell stake in 99-MW ND wind farm

Capital Power Corp. secured approval from the Federal Energy Regulatory Commission 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.

The wind facility's output 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 Morgan Stanley for a fixed amount of energy established on an hourly basis. The contract covers 87% of the facility's expected output. (FERC docket EC19-12)