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PSC gives go-ahead for sale of Noble Environmental Wind farms in Wyoming County
Credit: By EJ Conzola II, for The Daily News | Monday, October 22, 2018 | www.thedailynewsonline.com ~~
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Translate: FROM English | TO English
EAGLE – The state Public Service Commission on Thursday ruled that no further review of the proposed sale of Noble Environmental Power’s New York wind generating facilities was needed, clearing the way for the sale of six wind farms – including the company’s facilities in Eagle and Wethersfield.
Global asset management firm The Carlyle Group announced last month that it planned to buy the New York wind generating facilities owned by Noble Environmental Power.
The Carlyle Group, through a newly created subsidiary named Zephyr Wind Energy, is buying six wind farms in northeastern and western New York with a total generating capacity of 612 megawatts. In addition to the Wyoming County wind farms, the purchase involves three wind farms in Clinton County and one in Franklin County near the Canada border.
The purchase price and other financial details were not disclosed.
“This portfolio of assets represents the largest operating wind platform in New York and plays an important role in helping New York State meet its requirement that 50 percent of the state’s electricity come from renewable resources by 2030. The portfolio currently produces 29 percent of New York State’s wind power,” The Carlyle Group said in its announcement of the purchase.
The Carlyle Group, through its Carlyle Power Partners division, currently has a power portfolio that generates roughly 6,400 megawatts via natural gas and coal-fired power plants. The acquisition of the Noble facilities is the investment firm’s first foray into wind power; it was previously involved in some solar projects.
The sale leaves Noble, which emerged from bankruptcy less than two years ago, with a lone wind farm in Texas. The seven wind farms, each operated separately from Noble Environmental Power, were not affected by the company’s Chapter 11 restructuring.
Chateaugay Supervisor Donald Bilow said he had been aware that Carlyle was planning to purchase Noble, but that he had received no communications on the sale from either company and did not know what its potential impact would be.
Officials with Noble and The Carlyle Group did not return telephone calls seeking comment.
The Noble Wethersfield wind farm has 84 turbines, while Noble Bliss has 67.
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