MILAN, July 9 Italian renewable energy company
Enel Green Power said on Tuesday a consortium led by
JP Morgan had agreed to provide about $260 million to
fund a wind project in Kansas.
Enel GP, controlled by Italian utility Enel, said
in a statement the funds were expected in the fourth quarter of
the year after which a tax equity agreement for the Buffalo
Dunes project would be signed.
Tax equity accords under U.S. law allocate tax benefits from
renewable energy generation companies to passive investors.
The 250 megawatt Buffalo Dunes Wind Project in Kansas is 49
percent owned by Enel GP's U.S. unit.
Enel GP, Europe's No. 2 renewable operator for installed
capacity, is focusing its attention away from its core markets
of Italy and Spain.