Terra-Gen Power, LLC (Terra-Gen) has announced that it has signed a purchase and sale agreement with NRG Yield for the sale of its 947MW Alta Wind I-V, X & XI, and Realty projects (Alta Wind).
Terra-Gen expects to close the transaction in the third quarter of 2014, pending customary closing conditions. Terra-Gen Operating Company will continue to provide asset management and operations and maintenance services to Alta Wind after the sale. The sale of Alta Wind will divest Terra-Gen of its remaining phases of the Alta Wind Energy Center (AWEC). Terra-Gen originally acquired the AWEC development platform from Allco Finance in June 2008, and subsequently developed and constructed eleven interconnected wind projects totalling 1,547MW, all of which sell power under long-term, fixed price power purchase agreements to Southern California Edison (SCE).
