Enel Green Power North America (EGP-NA) has signed an agreement to purchase an additional 26% of the Class A interests in the 250 MW Buffalo Dunes wind farm in Kansas for approximately $60 million.
The option to buy the additional interests from EFS Buffalo Dunes LLC, a GE Capital subsidiary, was provided for in the original agreement between the two companies. The transaction will be closed following approval by the Federal Energy Regulatory Commission.
After closing, EGP-NA will own 75% of the Class A interests of the company operating the wind farm, while the GE Capital subsidiary will remain as an investor with a 25% stake.
‘The full consolidation of our "Buffalo Dunes' wind farm will bring Enel Green Power's installed capacity in North America to almost 2 GW, once again confirming EGP-NA as one of the top wind power players in the United States," says Francesco Starace, CEO of Enel Green Power. "We are committed to pursue further growth in this key market, across all main renewable technologies."
The Buffalo Dunes wind farm, located in Finney, Grant and Haskell counties, Kan., has been operational since December 2013.