EON Sells Stake in Indiana Wind Project to JPMorgan, Wells FargoAndrew Herndon
EON SE, Germany’s largest utility, sold a stake in a 200-megawatt wind farm in Indiana to an investor group that includes JPMorgan Chase & Co. and Wells Fargo & Co. for $174.9 million.
The Wildcat I project is EON’s first wind farm in Indiana and was completed in December, EON’s Chicago-based North America unit said today in a statement. The tax-equity financing give investors a share of the project’s tax incentives, EON spokesman Matt Tulis said today by telephone. He didn’t say how large a stake they purchased.
Wildcat uses 125 1.6-megawatt General Electric Co. turbines and sells the output to Indiana Michigan Power Co. under a 20-year agreement, according to data compiled by Bloomberg.