The Federal Energy Regulatory Commission on July 16 approved market-based rate authority for Campo Verde Solar LLC, which is developing a 139-MW solar project in California.
On May 23, Campo Verde Solar had filed an application for market-based rate authority with an accompanying tariff. The proposed market-based rate tariff provides for the sale of energy and capacity at market-based rates. Campo Verde also requested waivers commonly granted to similar market-based rate applicants.
Campo Verde will own and operate a 139-MW solar facility located in California within the California Independent System Operator (CAISO) market. All of the facility’s output is committed to a long-term power purchase agreement.
“Upon completion (anticipated in the Fall of 2013), the full output of the Solar Facility will be committed to San Diego Gas & Electric Company (‘SDG&E’) under a twenty-year agreement (‘PPA’),” said the company in the May 23 application. “In addition, Applicant intends to self-certify the Solar Facility for status as a Qualifying Facility (‘QF’) with the Commission prior to completion of construction.”
The company is affiliated with an additional 30.6 MW of generation located in the Public Service Co. of New Mexico balancing authority area, 50 MW of generation in the Nevada Power balancing authority area, and 2.5 MW of generation in the Duke Energy Carolinas balancing authority area.
Campo Verde is 90% owned by Southern Turner Renewable Energy LLC, which is wholly-owned by Southern Co. (NYSE: SO), and the remaining 10% non-managing interests are held by Turner Renewable Energy LLC.