Allianz, MUFG Get Approval for Investment in EDF Oklahoma Wind

Allianz SE, the German insurer, and a Japanese bank won conditional U.S. government approval for a tax-equity investment in a 225-megawatt wind farm in Oklahoma being developed by a unit of Electricite de France SA.

Under the deal, units of Allianz and Mitsubishi UFJ Financial Group Inc. would acquire Class A non-managing interests in the the Great Western wind project “for an amount in excess of $10 million,” according to a U.S. Federal Energy Regulatory Commission filing Friday. The buyers may also include another unidentified investor. Terms weren’t disclosed.

Great Western, in Ellis and Woodward counties, will be connected to the transmission system owned by Oklahoma Gas & Electric Co.

Earlier this week, Allianz was approved for a tax-equity investment in EDF Renewable Energy’s 184-megawatt Kelly Creek wind project in Illinois.

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