Free press releases distribution network?

More news: Energy
Agency / Source: Enel Group

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Enel Signs Tax Equity Agreement for 400 MW Cimarron Bend Wind Project in the USA - Enel Green Power North America, Inc. (“EGPNA”) has signed a tax equity agreement worth approximately 500 million U.S. dollars with three investors for the 400 MW Cimarron Bend wind project located in Kansas - EnelGreenPower.com
Enel Signs Tax Equity Agreement for 400 MW Cimarron Bend Wind Project in the USA

 

PRZOOM - /newswire/ - Rome, Italy, 2016/09/16 - Enel Green Power North America, Inc. (“EGPNA”) has signed a tax equity agreement worth approximately 500 million U.S. dollars with three investors for the 400 MW Cimarron Bend wind project located in Kansas - EnelGreenPower.com. IT0003128367

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

• Bank of America Merrill Lynch, J.P. Morgan and MetLife to commit approximately 500 million US dollars for 100% of the wind project’s “Class B” Membership interests;
• Enel Group will retain 100% of Cimarron Bend’s “Class A” interests and control of the project;
• The project will require an investment of approximately 610 million U.S. dollars.

Enel Green Power North America, Inc. (“EGPNA”), the U.S. renewable energy company of the Enel Group, acting through its subsidiary Cimarron Bend Wind Holdings, LLC (“Cimarron Bend Wind Holdings”) has signed a tax equity agreement worth approximately 500 million U.S. dollars with three investors Bank of America Merrill Lynch, J.P. Morgan and MetLife for the 400 MW Cimarron Bend wind project located in Kansas.

Under the agreement, which is common for the development of renewable energy projects in the United States, the investors will contribute the above amount to the wind farm’s owner Cimarron Bend Wind Holdings1 in exchange for 100% of “Class B” Membership interests in the project. This interest will allow the three investors to obtain, at certain conditions provided by U.S. tax laws, a percentage of the fiscal benefits that will be attributed to the Cimarron Bend project. In turn, EGPNA, through Cimarron Bend Wind Holdings, retains 100% ownership of the “Class A” interests and therefore management control of the project.

The funding commitment came into effect at signing. Funds will be released in two phases, the first instalment being released mid-way through the entire 400 MW project construction and the second instalment upon completion of the project. The tax equity partnership will be supported by a parent company guarantee from Enel S.p.A..

The Cimarron Bend wind farm, whose construction started in April 2016, is expected to begin operations in 2017. The project will require an investment of approximately 610 million U.S. dollars, in line with the Enel Group’s current strategic plan.

Once fully operational, Cimarron Bend will be able to generate around 1.8 TWh per year, providing enough energy to meet the annual consumption needs of more than 149,000 average U.S. households, while avoiding the emissions of around 1.3 million tonnes of CO2 each year.

1. Cimarron Bend Wind Holdings, who owns the project through special purpose vehicles, is fully owned by Enel Kansas, a 100% subsidiary of EGPNA. Cimarron Bend Wind Holdings has taken over the project assets from Cimarron Bend Wind Project, LLC.

Cimarron Bend is supported by two, 200 MW bundled, long-term power purchase agreements, one with Google and the other with the Kansas City Board of Public Utilities. Cimarron Bend is the first of Enel Group’s North American wind farms to sell a portion of the power produced to a corporate off-taker.

EGPNA (enelgreenpower.com) is present in 22 U.S. states and two Canadian provinces with more than 2.5 GW of installed capacity spread across four different renewable energy technologies: wind, solar, geothermal and hydropower.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Enel Group

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Enel Signs Tax Equity Agreement for 400 MW Cimarron Bend Wind Project in the USA

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
EGPNA | Cimarron Bend Project
Contact: Roberta Vivenzio - Enel.com 
+39 06 83051 GMR[.]enel.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Enel Group securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From Enel Group / Company Profile


Read Energy Most Recent Related Press Releases:

ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  NAKIVO, Inc.

Visit  JobsWare.com

Visit  Triggr & Bloom







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today