The Federal Energy Regulatory Commission on Dec. 3 approved an Oct. 28 application from CSOLAR IV South LLC requesting commission approval in connection with a two-part transaction involving ownership of this company.
The deal involves: a limited restructuring of CSOLAR IV South’s existing ownership; and a transfer of upstream ownership interests, which are passive, in CSOLAR IV South to The Prudential Insurance Company of America.
CSOLAR IV South, an exempt wholesale generator with market-based rate authority, owns and is developing the Imperial Solar Energy Center South, a 130-MW system to be located in El Centro, Calif. The facility will be interconnected with transmission facilities that are owned by San Diego Gas & Electric under the operational control of the California Independent System Operator (CAISO).
The Imperial Solar Energy Center South is a ground-mounted photovoltaic system, with construction to be completed late this year. All of the facility’s output is committed under a 25-year power purchase agreement with San Diego Gas & Electric.
CSOLAR IV South is not, according to it, affiliated with any entity that owns or controls generation within the CAISO control area other than High Desert Power Project LLC, owner of a 780-MW natural gas-fired facility in Victorville, Calif.
CSOLAR IV South is owned 99% by Tenaska CSOLAR South Holdings LLC, with the remaining 1% by Tenaska CSOLAR South LLC (TCS). TCS is a wholly-owned subsidiary of Tenaska Energy, an independent developer and owner of power production facilities located throughout the United States and abroad.
Within the CAISO control area, Prudential Financial owns a passive, indirect interest through Halsey Street Investments LLC, owner and operator of a 150-MW wind facility located in Salano County, Calif.