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Algonquin Power closes purchase of 50-MW Nev. solar project

Algonquin Power & Utilities Corp. has closed its purchase of the 50-MW Luning solar facility in Mineral County, Nev., from Invenergy LLC, according to a Dec. 28 notice of consummation.

Under a two-part transaction, Liberty Utilities (CalPeco Electric) LLC, an Algonquin affiliate, bought controlling stake in the project, and Firstar Development LLC acquired the passive, noncontrolling membership stake.

Following the completion of the deal, Luning will enter a long-term contract to sell its entire output to Liberty Utilities. Financial details of the deal were not disclosed.

The deal, which FERC approved Nov. 14, was completed Dec. 21. (FERC docket EC17-4)