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Japan's Marubeni takes control of Calif. wind farm

Jan. 8, 2014 at 7:34 AM   |   Comments

TOKYO, Jan. 8 (UPI) -- Japanese trading company Marubeni Corp. said Wednesday it acquired a 90 percent stake in a California wind farm project from a French utility subsidiary.

Marubeni announced it acquired the interest in the Solano County, Calif., wind project from EDF Renewable Energy, a subsidiary of French utility company Electricite de France.

The Shiloh IV wind farm, which became operational in December 2012, has a 102.5 megawatt capacity. The agreement brings Marubeni's total power generation capacity worldwide to 33,727 MW, the company said in a statement.

The financial terms of the agreement weren't disclosed. EDF Renewable Energy maintains a 10 percent interest in the California wind project.

California legislation enacted in 2008 requires state utility companies to get 33 percent of their electricity from renewable forms of energy like wind power by 2020.

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