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FERC clears Macquarie's sale of passive stake in 2 wind farms

FERC onJuly 6 approved a Macquarie Group Ltd. subsidiary's proposed of passive equity interests in twowind facilities.

MacquarieWind Farm LLC plans to sell its passive interest in the 42-MW wind farm in AroostookCounty, Maine, and the 34.5-MW Munnsville wind project in Madison and Oneida counties,N.Y., to investment funds advised by TSSP Adjacent Opportunities Management LLCfor undisclosed terms. The parties filed an application with FERC on June 3.

MacquarieWind Farm owns the stakes via Nationwide Wind Portfolio LLC, a joint venturewith JPM Capital Corp. Nationwide Wind owns a 56.13% non-managing, passiveequity interest in Mars Hill and 100% of the Class A non-managing, passivemembership interests in Munnsville. JPM Capital will continue to maintain itsshare of the passive equity interest in both facilities after the deal.

ASunEdison Inc.subsidiary manages operations at Mars Hill, which sells its output to NewBrunswick Power Generation Corp., a unit of NB Power, under a long-term agreement. oversees operations atMunnsville, which sells its electricity to Consolidated Edison Energy Inc., acompetitive energy supply subsidiary of Consolidated Edison Inc., under a long-term contract.

Thetransaction is part of a broader deal under which Macquarie Wind will sell itsnon-managing passive indirect equity interests in certain wind projects. Inaddition to Mars Hill and Munnsville, the deal includes the 120.6-MW ; 232.5-MWBuffalo Gap II;170.2-MW Buffalo Gap3 projects, all in Texas; and the 30-MW Kaheawa Pastures facility in Hawaii. (EC16-129)