Bloomberg News

EON Sells Stake in Indiana Wind Project to JPMorgan, Wells Fargo

March 27, 2013

EON SE (EOAN), Germany’s largest utility, sold a stake in a 200-megawatt wind farm in Indiana to an investor group that includes JPMorgan Chase & Co. (JPM:US) and Wells Fargo & Co. (WFC:US) 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.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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Companies Mentioned

  • JPM
    (JPMorgan Chase & Co)
    • $56.09 USD
    • -0.11
    • -0.2%
  • WFC
    (Wells Fargo & Co)
    • $48.69 USD
    • 0.56
    • 1.15%
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