Gulf Pacific Power Increases Stake in Two Wind Portfolios

BIRMINGHAM, Ala., June 27, 2022 (GLOBE NEWSWIRE) -- Harbert Management Corporation (“HMC”) is pleased to announce that Gulf Pacific Power, LLC (“GPP”) has increased its cash-equity position in two wind portfolios: EGPNA Renewable Energy Holdings, LLC, a holding company that owns a 785 MW portfolio of four operating wind projects, and Rocky Caney Holdings, LLC, a holding company owning two operating wind projects totaling 349 MW (together, the “Portfolios”). GPP acquired the additional interests from subsidiaries of Enel Green Power North America, Inc. ("Enel"), who will continue to operate the Portfolios. Financial terms of the transaction were not disclosed.

The Portfolios include the 235 MW Chisholm View facility in Grant and Garfield Counties, Oklahoma; the 200 MW Prairie Rose facility in Rock and Pipestone Counties, Minnesota; the 200 MW Goodwell facility in Texas County, Oklahoma; the 150 MW Origin facility in Murray and Carter Counties, Oklahoma; the 200 MW Caney River facility in Elk County, Kansas, and the 149 MW Rocky Ridge facility in Kiowa and Washita Counties, Oklahoma. Each of the projects benefit from long-term power purchase agreements with highly rated counterparties.

Claude Estes, Head of Investments at Harbert Infrastructure, noted, “We are thrilled to expand our ownership position in these two wind portfolios, as well as our relationship with our partner Enel.”

GPP was formed in 2013 to make equity investments in North American power infrastructure. In addition to the Portfolios, GPP’s current holdings include investments in: Sandersville, a 600 MW simple-cycle power plant in Warthen, Georgia; Washington County Power, a 613 MW simple-cycle power plant in Linton, Georgia; Desert Sunlight, a 550 MW(ac) solar photovoltaic power generation facility in Riverside County, California; Northern Star Generation, a 1,052 MW portfolio of five thermal power plants in Florida and Nevada; and Astoria Energy II, a 575 MW combined-cycle power plant in New York City.

About HMC

HMC, an alternative asset management firm with approximately $8.0 billion in Regulatory Assets Under Management as of May 31, 2022, is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include infrastructure, European and U.S. real estate, seniors housing, growth equity, credit solutions, and public securities. To learn more about HMC please visit, www.harbert.net.

Contact: HMC Investor Relations
Telephone: 205.987.5500
E-mail: [email protected]