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Capital Power closes sale of interest in 99-MW ND wind farm

Capital Power Corp. sold 100% of the Class A membership interest in the 99-MW Meadowlark wind farm in McHenry County, N.D., to JPM Capital Corp.

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.

The Federal Energy Regulatory Commission approved the transaction on Dec. 14, 2018. (FERC docket EC19-12)