Allianz Capital Partners and Mitsubishi UFJ Financial Group Inc. (MUFG) have jointly invested tax equity in the Great Western wind park, developed and owned by EDF Renewable Energy (EDF RE) in Oklahoma.
The 225 MW Great Western project is situated in Ellis and Woodward counties. According to the investors, the wind farm is capable of producing enough energy to power approximately 70,000 average Oklahoma households.
David Jones, head of renewables at Allianz Capital Partners, calls the wind farm a “valuable addition to [the firm’s] renewable energy portfolio,” which now surpasses EUR 3.5 billion for wind and solar projects in the U.S., Austria, Finland, France, Germany, Italy and Sweden. This deal marks Allianz’s fourth tax equity investment in the U.S.
Lance Markowitz, head of leasing and asset finance at MUFG, says, “The Great Western wind farm is a great example of three organizations coming together to help create an energy project that will provide clean, competitively priced and affordable power to Oklahoma residents for many years to come.”
During the next 25 years, Great Western is projected to generate more than $25 million in property taxes for Ellis and Woodward counties, the investors say.