Gulf Pacific Power LLC (GPP) has completed the acquisition of an 80% stake in EGPNA Renewable Energy Holdings LLC (REP), a holding company that owns an 812 MW portfolio of five operating wind projects located in the U.S. and Canada.
GPP formed Gulf Plains Wind LLC to acquire the interest in REP from GE Energy Financial Services and Enel Green Power North America Inc. (EGPNA). EGPNA has retained a 20% stake in REP and will continue to operate the portfolio.
The portfolio includes the 235 MW Chisholm View facility in Grant and Garfield counties, Okla.; the 200 MW Prairie Rose facility in Rock and Pipestone counties, Minn.; the 200 MW Goodwell facility in Texas County, Okla.; the 150 MW Origin facility in Murray and Carter counties, Okla.; and the 27 MW St. Lawrence facility in Newfoundland, Canada. All of the projects have long-term power purchase agreements.
Hogan Lovells acted as legal counsel, and CohnReznick Capital acted as financial advisor to GPP on the transaction.
Gulf Plains Wind represents GPP’s second partnership with EGPNA, following GPP’s 2017 acquisition of an 80% stake in Rocky Caney Wind, a 350 MW portfolio of wind projects in Kansas and Oklahoma.
Photo: Prairie Rose