US-based Harbert Management Corporation (HMC) affiliate Gulf Pacific Power (GPP) has bought a 80% stake in EGPNA Renewable Energy Holdings (REP).

REP owns a portfolio of five windfarms in the US and Canada, which have a combined power generating capacity of 812MW.

GPP created Gulf Plains Wind to acquire REP stake from GE Energy Financial Services and Enel Green Power North America (EGPNA). Financial details of the deal have not been divulged by either company.

EGPNA noted that it intends to retain a 20% stake in REP’s wind portfolio and will also continue to operate the five windfarms.

HMC spokesman said: “The Gulf Plains Wind investment is a strong strategic fit for GPP and an attractive addition to our growing renewables portfolio.

“We are pleased at this opportunity to extend and strengthen our existing relationship with Enel Green Power, a world-class renewable energy developer and operator.”

The five windfarms are the 235MW Chisholm View, 200MW Goodwell facility and the 150MW Origin facility, which are located in the state of Oklahoma. The remaining two are 200MW Prairie Rose facility in Minnesota state and 27MW St. Lawrence windfarm in Newfoundland, Canada.

All the windfarms that are part of the acquisition portfolio have long-term power purchase agreements (PPAs) in place.

Hogan Lovells served as the legal counsel while CohnReznick Capital acted as financial advisor to GPP.

Backed by California Public Employees’ Retirement System (CalPERS) and HMC affiliates, GPP focuses on making equity investments in North American power infrastructure.