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)