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Alphabet unit to sell passive stake in 199-MW Kan. wind farm

An Alphabet Inc. subsidiary plans to sell 100% of its passive tax equity membership interests in the 199-MW Waverly Wind Farm in Coffey County, Kan.

Oz Wind LLC will sell its passive stake in the facility to JPM Capital Corp., and New York Life Insurance Co. and/or New York Life Insurance & Annuity Corp., or their subsidiaries, according to an Aug. 4 application to the Federal Energy Regulatory Commission. Each of the buyers will hold 50% class B interests in the facility.

The class A membership interests in the Waverly wind farm will still be 51% owned by EDP Renewables North America and 49% owned by Axium US Wind AcquisitionCo LLC.

The output of the facility is sold to Kansas City Power & Light Co. under a 20-year power purchase agreement, which runs until 2036.

FERC has been asked to approve the transaction before Sept. 20.

JPM Capital Corporation is an indirect wholly owned subsidiary of JPMorgan Chase & Co. (FERC docket EC17-151)