Alphabet subsidiary completes equity deal in 199-MW Kan wind facility
Alphabet subsidiary completes equity deal in 199-MW Kan. wind facility
An Alphabet Inc. subsidiary completed the sale of 100% of its passive tax equity membership interests in the 199-MW Waverly Wind Farm, according to a Nov. 1 notice to the Federal Energy Regulatory Commission.
On Aug. 4, Oz Wind LLC filed an application to sell its passive stake in the facility to JPM Capital Corp. and New York Life Insurance Co. and/or New York Life Insurance & Annuity Corp. or their subsidiaries. FERC approved the transaction Sept. 22.
Each of the buyers now hold 50% class B interests in the facility. The class A membership interests in the Waverly wind farm, located in Coffey County, Kan., will still be 51% owned by EDP Renewables North America and 49% owned by Axium US Wind AcquisitionCo LLC.
Great Plains Energy Inc. subsidiary Kansas City Power & Light Co. purchases the output of the facility under a 20-year contract expiring in 2036.
JPM Capital is an indirect wholly owned subsidiary of JPMorgan Chase & Co. (FERC docket EC17-151)