American Wind Capital Company (AWCC), a leader in monetizing royalties from wind and other renewable energy projects, announced a multi-million dollar acquisition of assets from Oak Creek Energy Systems, Inc. (OCES), a California based developer that is majority owned by Marubeni Corporation; one of Japan's leading trading companies. AWCC also announced the opening of an office, in Sweetwater, Texas, where AWCC has successfully closed and funded its first Texas-based transactions.
It also 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."