PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / 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 Green Power North America Finalized A Tax Equity Partnership Agreement - Enel Green Power North America has finalized a tax partnership agreement for, approximately, 340 million US dollars, with a consortium led by J.P. Morgan
Enel Green Power North America Finalized A Tax Equity Partnership Agreement

 

NewswireToday - /newswire/ - Rome, Italy, 2012/01/02 - Enel Green Power North America has finalized a tax partnership agreement for, approximately, 340 million US dollars, with a consortium led by J.P. Morgan. 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!


 

The agreement is aimed at two wind farms located in Kansas and Oklahoma, for a total capacity of 350 MW.

Enel Green Power S.p.A. (EGP) announces the closing of a tax equity partnership agreement for a consideration of, approximately, 340 million US dollars, between a consortium led by J. P. Morgan and EGP subsidiary Enel Green Power North America Inc. (EGP-NA). The agreement relates to the two wind farms Caney River (located in Elk county, Kansas) and Rocky Ridge (located in Kiowa and Washita counties, Oklahoma).

The projects have a total capacity of 350 MW and are supported by long term power purchase agreements.

Tax equity partnerships are instruments governed by U.S. tax law which allow, under certain conditions and in specific situations provided by tax legislation, tax benefits in the U.S. to renewable energy generation companies to be assigned to third party entities (the so-called “tax equity investors”). In this respect, the tax equity partnership agreement with the consortium led by J. P. Morgan provides that the consortium makes a cash contribution for an overall amount of, approximately, 340 million US dollars to the subsidiary of EGP-NA holder of the two aforementioned projects in return of a stake with voting rights restricted to the equity of the subsidiary above. Such stake will allow the consortium to obtain, at certain conditions, a percentage of the fiscal benefits that will be attributed to the EGP-NA subsidiary.

Together with J. P. Morgan, the consortium is also comprised of Wells Fargo and MetLife.

The tax equity partnership agreement is supported by an EGP’s parent company guarantee.

Francesco Starace, EGP CEO, stated: “This transaction further demonstrates EGP-NA’s commitment to developing a sound pipeline in North America as well as boosting local economies through development and construction activities.”

Enel Green Power North America, Inc. (enel.com), part of Enel Green Power, is a leading owner and operator of renewable energy plants in North America with projects operating and under development in 21 U.S. states and three Canadian provinces. EGP-NA owns and operates more than 70 plants with an installed capacity exceeding 1,000 MW powered by renewable hydropower, wind, geothermal, solar and biomass energy.

 
 
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!


 

Written by / Agency / Source: Enel Group

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today 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 Green Power North America Finalized A Tax Equity Partnership Agreement

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 Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Enel Green Power |
Publisher Contact: Enel Group - Enel.com 
+39 06 83055699 ufficiostampa[.]enel.com
 
Newswire Today - PRZOOM / PRTODAY 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 Articles From Enel Group / Company Profile


Read Energy Most Recent Related Newswires:

Enel Starts Operations of Cristalândia Wind Farm in Brazil
PJB Spearheads Digital Energy for Indonesia with Deployment of GE Digital Power Plant Software
GE and Maersk Drilling Accelerate their Digital Partnership to Drive Industry Transformation
GE to Provide Digitally-enabled HA Power Plant and Services for Mexico's Tierra Mojada Project
Cisco and Enel Sign Agreement on Digitisation and Innovative Services
Enel and Seedstars Sign Cooperation Agreement to Identify Innovative Energy Access Startups in Africa
ENGIE Launches its First Ephemeral Campus
Enel Signs Agreement with US Company Amber Kinetics on Innovative Flywheel Storage System
Alternative Fuels, Carrefour and ENGIE are Joining Forces to Develop Biomethane in France
GE Renewable Energy and Fortum Sverige AB Sign Digital Hydro Pilot Agreement
GE Renewable Energy Announces Agreement to Provide Cube Hydro with Aerating Turbines
GE Oil & Gas and Eni East Africa Sign Long-term Partnership to Develop Gas Resources Offshore of Mozambique
RWE Turns to GE to Improve Flexibility and Performance
Liquefied Gas Pump Market to Record an Exponential CAGR by 2026 According to Persistence Market Research
GE and Solairedirect India Partner for the Next 25 Years

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Rapid Recovery

Visit  JobsWare.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR 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 entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)