Enel Green Power Signs Funding Deal with JP Morgan

Italian renewable energy group Enel Green Power said on Tuesday it had signed a $400 million capital contribution agreement with a consortium led by J.P. Morgan for two wind projects in the United States with a total installed capacity of 350 MW.

In exchange for its financial contribution, the consortium will receive an equity interest with limited voting rights, which will allow it to obtain a percentage of the fiscal benefits resulting from the two projects.

(Reporting by Agnieszka Flak; editing by Stephen Jewkes)