Sale of Development Wind Assets to:
Tenaska acquired a 470-megawatt Wind Development Portfolio from PRC Wind.
Marathon Capital acted as exclusive financial advisor to PRC Wind on the sale.
PRC Wind is a Minneapolis-based company with a strong record of successful wind development. The Wind Development Portfolio is comprised of three mid-stage projects in Minnesota and North Dakota. All three projects will interconnect to the Midcontinent Independent System Operator (MISO) regional transmission system, with one of the projects also able to interconnect with Southwest Power Pool (SPP).
Following the transaction, PRC continues to provide support services to Tenaska through completion of local development activities. Tenaska will assume overall development responsibility, as well as financing, construction and operations, and plans to utilize its inventory of “safe harbor” wind turbines to achieve full production tax credit qualification.