Prairie Breeze Wind seeks change in upstream ownership

Prairie Breeze Wind Energy LLC, which is developing a 200.6-MW wind project in Nebraska, applied Nov. 18 at the Federal Energy Regulatory Commission for a change in upstream ownership.

Under this proposed ownership change: each of JPM Capital Corp. (JPMCC), EFS Prairie Breeze LLC (EFS), and BAL Investment & Advisory Inc. (BALIA) or a wholly-owned subsidiary of BALIA, would acquire the passive, non-controlling Class A membership interests in Prairie Breeze Holdings LLC (PB Holdings), which is the direct parent company of the applicant; and Prairie Breeze Class B Holdings LLC (Class B Holdings) and Beech Ridge Investment Corp. (BRIC) would exchange or convert their membership interests in PB Holdings to Class B membership interests.

Prairie Breeze is constructing, and plants to own and operate, a wind project with a capacity of up to 200.6 MW (nameplate) located near Petersburg, Neb. The Prairie Breeze Project will also include electric interconnection facilities needed to interconnect with the transmission system owned by the Nebraska Public Power District (NPPD). The Prairie Breeze Project could possibly begin generating test electricity in November 2013.

Prairie Breeze has entered into a long term power sale agreement pursuant to which it will sell all of the power produced to Omaha Public Power District (OPPD) once operations of the project begin.

Prairie Breeze is a direct, wholly-owned subsidiary of PB Holdings. Currently, the direct owners of PB Holdings are Class B Holdings, which owns 99% of the membership interests in PB Holdings, and BRIC, which owns 1%. Invenergy Wind indirectly holds 100% of the ownership interests in Class B Holdings and BRIC. Invenergy Wind is an indirect, partially owned subsidiary of Invenergy Investment Co. LLC.

JPMCC is an indirect, wholly-owned subsidiary of JPMorgan Chase & Co., which is headquartered in New York City and is a financial holding company.

EFS is an indirect, wholly-owned subsidiary of General Electric (NYSE: GE).

BALIA is an indirect, wholly-owned subsidiary of Bank of America Corp.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.