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FERC approves EDF to sell tax equity stake in 2 renewable projects to Allianz

The Federal Energy Regulatory Commission approved Aug. 21 a tax equity transaction in which EDF Renewables Inc. will sell an upstream ownership interest in two renewable projects to a subsidiary of Allianz SE.

Under the deal, Allianz will acquire all Class A non-managing membership interests in the 212-MW Glacier's Edge Wind Project in Cherokee County, Iowa, and the 100-MW Valentine Solar Project in Kern County, Calif., in two stages as the projects reach the appropriate stages of development. EDF would retain the Class B managing interests in the projects.

Glacier's Edge is scheduled to come online by the end of 2019 and will supply electricity to Alphabet Inc. subsidiary Google LLC under a 12-year contract. The Valentine project is scheduled to come online in the fall of 2019 and has a contract, ending in 2034, to provide its output to Edison International subsidiary Southern California Edison Co.

EDF Renewables is a subsidiary of Electricité de France SA. (FERC docket EC 19-108)