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RBC affiliate to make equity investment in Md. solar project

An affiliate of Royal Bank of Canada is seeking the Federal Energy Regulatory Commission approval to acquire 100% class A tax equity stake in a 75-MW under-construction solar project in Maryland.

Under the transaction, RBC Tax Credit VI LLC will acquire the class A stake from Algonquin Power & Utilities Corp. affiliate Great Bay Solar I Holdings LLC for an undisclosed sum.

The Somerset County-based project will sell power to the U.S. General Services Administration under long-term power purchase agreement, according to an Aug. 3 FERC filing.

The commission has been requested to approve the transaction by Sept. 5. (FERC docket EC17-148)