AWCC also announced:
* The opening of an office, in Sweetwater, Texas, where AWCC has successfully closed and funded its first Texas-based transactions.
* Closed its first transaction in which the seller used his proceeds to purchase additional real estate using a "1031 Like Kind Exchange," which allowed the landowner to defer tax liability from the sale of his royalties.
"These milestones represent material advancements for our company," said American Wind Capital’s CEO Charles Hinckley. "This rapid expansion of our business reflects the value we add for both large and small landowners of property that host renewable projects."
AWCC is funded by the Barclays Natural Resource Investments ("BNRI") division of Barclays Capital, the investment banking division of Barclays Bank PLC and NGP Energy Technology Partners ("NGP ETP"), a leading private equity firm focused on the energy technology sector, and individual investors. For more information about
OCES, located in Escondido, California is a wind power pioneer, beginning with one of the first wind farms built in Tehachapi, California in early 1982. The company has long played an active role in the wind energy industry and has worked to advance major transmission improvements to the area providing major benefits of large-scale clean energy to the California power grid.
Marubeni is one of the leading Japanese trading firms, founded in 1949, and operates in various industries from textile to exploration of natural resources to energy. Among 12 business divisions in Marubeni’s organization, the Power Projects & Infrastructure Division is one of its core divisions and the investment in overseas independent power generation projects is identified as a Growing Core Business. Marubeni’s Power Projects & Infrastructure Division investments include over 25,000 MW (gross) of Domestic and Overseas Projects, including wind energy projects.