Mitsubishi UFJ to Invest in 150-Megawatt EDF Wind Farm in Kansasby
EDF seeking FERC approval for tax-equity deal by December 11
Slate Creek wind project will use turbines from Vestas
Mitsubishi UFJ Financial Group Inc. agreed to invest in an Electricite de France SA wind project under construction in Kansas.
EDF’s U.S. renewable energy unit is seeking approval to sell tax equity in the 150-megawatt Slate Creek wind farm to Mitsubishi’s MUFG Union Bank NA, according to documents filed Nov. 9 with the U.S. Federal Energy Regulatory Commission. The deal is valued “in excess of $10 million” and may eventually include additional investors.
In tax-equity deals, developers sell the the tax credits associated with their projects to investors that use them to reduce their tax liabilities.
EDF will own and operate the wind farm in Sumner County and is seeking approval for the tax-equity deal by Dec. 11. Slate Creek will use turbines from Vestas Wind Systems A/S and has a long-term power purchase agreement with Kansas City Power & Light Co., according to the FERC application.