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Shell gets FERC approval to exit stake in 264-MW wind project

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Shell gets FERC approval to exit stake in 264-MW wind project

Royal Dutch Shell PLC subsidiary Shell WindEnergy Inc. secured federal approval to sell its 50% interest in the 264-MW NedPower Mount Storm wind farm in Grant County, W.Va., to an affiliate of Castleton Commodities International LLC.

Under the deal, project owner NedPower Mount Storm LLC will sell 50% of its membership interests to Castleton Commodities affiliate CCI Power Asset Holdings II LLC for undisclosed financial terms. (FERC docket EC19-97)

In a separate deal which closed June 17, Dominion Energy Inc., through NedPower, sold its 50% stake in the wind facility to CCI Power Asset Holdings. (FERC docket EC19-60)

CCI Power Asset Holdings will become the sole owner of NedPower, following the transactions.

Energy Trading Innovations LLC owns and controls about 87% of Castleton Commodities International, a global energy commodities trading firm.