Apr 12 2010
American Wind Capital Company (AWCC) is a company engaged in deriving values from investments in renewable energy projects including wind energy. Recently, the company took over multi-million dollar worth of assets from a California-based wind project development company, Oak Creek Energy Systems, Inc. (OCES). The leading Japanese company, Marubeni Corporation, also owns majority stake in OCES.
OCES, situated in Escondido, California, is an established wind energy company that started its first wind farm during the early part of 1982 in Tehachapi, California. OCES was very actively engaged in wind energy production and has made a number of improvements in the transmission of energy produced in California and is also a major clean energy contributor to the California power grid.
AWCC is a company financed jointly by NGP Energy Technology Partners and the Barclays Natural Resource Investments (BNRI), a unit of the investment banking division of the well known Barclays Bank plc. NGP Energy is a private equity company engaged in energy technology sector and personal investments.
On taking over OCES, AWCC has announced its intention in setting up an office in Sweetwater, Texas, where the company had earlier successfully closed funding a Texas-based transaction. The company closed its earlier transaction to help the seller to use the sales proceeds for acquiring additional real estate property by utilizing 1031 Like Kind Exchange, a scheme that helped the landowner to defer tax burden from the sale of its royalties.
Source: http://www.americanwindcapital.com