The California Public Employees’ Retirement System (CalPERS) is purchasing an 80% cash equity interest in Rocky Caney Holdings LLC (Rocky Caney Wind), whose two wind farms consist of the Caney River facility in Elk County, Kansas, and the Rocky Ridge facility in Kowa and Washita Counties, Oklahoma.
The investment was made through the Gulf Pacific Power (GPP) account, an existing partnership between the $344 billion CalPERS and Harbert Management Corp.
The cash equity stake was acquired from Enel Green Power North America, an Enel Group company. In addition to retaining 20% cash equity interest in Rocky Caney Wind, Enel will also continue to conduct management, operations, and maintenance activities at both wind farms.
“This is a great opportunity for CalPERS to expand our renewable energy holdings,” CalPERS’ CIO Ted Eliopoulos said in a statement. “The wind farms are not only an important source of clean energy, they also meet the strategic role of our real assets program.”