Stony Creek Energy LLC, which is developing a 94.4-MW wind project in New York, on Aug. 22 asked the Federal Energy Regulatory Commission for authorization for a change in ownership.
This transaction would result in an change in its upstream ownership: all of the passive, non-controlling Class A membership interests in Orangeville Holdings LLC, which is the direct parent company of Stony Creek Energy, which are acquired by Firstar Development LLC; and the exchange or conversion of the membership interests Orangeville Class B Holdings LLC owns in Orangeville Holdings to Class B membership interests.
Stony Creek plans to construct, own and operate wind facilities of up to 94.4 MW (nameplate) that will be located in Wyoming County, N.Y. (called the “SC Facility”). The SC Facility will also include electric interconnection facilities necessary to effectuate Stony Creek’s wholesale power sales from the facility.
The facility will be interconnected with the transmission system owned by New York State Electric & Gas (NYSEG), and controlled by the New York Independent System Operator (NYISO). Stony Creek will use the interconnection facilities that it will own to deliver the power from its facility to the interconnection point with the NYISO system. Stony Creek will sell electric energy, capacity and ancillary services produced from the SC Facility exclusively at wholesale.
The commission has previously granted Stony Creek market-based rate authority and it is an exempt wholesale generator (EWG). Stony Creek is an indirect, wholly-owned subsidiary of Invenergy Wind LLC.
Stony Creek is a direct, wholly-owned subsidiary of Orangeville Holdings, which is currently a direct, wholly-owned subsidiary of Class B Holdings. Invenergy Wind indirectly holds 100% of the ownership interests in Class B Holdings.
Invenergy Wind is an in-direct, partially owned subsidiary of Invenergy Investment Co. LLC. Invenergy Investment indirectly owns the controlling membership interests in Invenergy Wind. Through subsidiaries, Invenergy Investment and/or Invenergy Wind are in the business of acquiring or developing, and owning and operating, electric generation facilities and associated interconnection transmission facilities in the U.S. and abroad.
Invenergy Investment indirectly owns the controlling interests in Sheldon Energy LLC, which owns generation facilities and associated generator tie-line facilities located in the NYISO geographic market. Sheldon owns and operates an up to 112.5 MW (nameplate) wind facility located in Wyoming County, N.Y., together with limited interconnection facilities that connect its generation facility to the transmission system owned by NYSEG and such transmission system is under the control of the NYISO.
On July 1, Liberty Structured Holdings LLC acquired an in-direct minority, passive, non-controlling ownership interest in Invenergy Wind. Liberty Mutual Holdings Co. (LMHC) is the indirect parent holding company of Liberty Holdings. Through subsidiaries, LHMC is primarily engaged in the insurance business. The Liberty Holdings acquisition of its ownership interests in Invenergy Wind occurred in accordance with the Federal Power Act Section 203 approval granted by the commission. Liberty Holdings does not directly own or control, and its affiliates do not own or control, generation, electric transmission or distribution facilities, or other relevant inputs to generation, located in the relevant markets in which the Invenergy Wind companies’ generation is located (which included the NYISO geographic market).
Firstar is an indirect, wholly-owned subsidiary of U.S. Bancorp (NYSE: USB).