FERC okays sale by Recurrent Energy of two Calif. solar projects

The Federal Energy Regulatory Commission on Dec. 11 signed off on the sale of RE Rosamond One LLC and RE Rosamond Two LLC, which are developing California solar projects, by Recurrent Energy LLC.

On Nov. 1, RE Rosamond One and RE Rosamond Two requested commission authorization for the disposition of jurisdictional facilities resulting from a transfer of the Rosamond companies from their upstream owner, Recurrent Energy, to Gamma Genco CV II LLC.

Rosamond One and Rosamond Two are each developing a 20-MW (ac) solar generation facility located in Kern County, Calif. The facilities are located on adjacent sites within the California Independent System Operator balancing authority area.  The Rosamond companies are exempt wholesale generators and have each filed an application to sell energy, capacity, and ancillary services at market based rates.

Each will be a qualifying small power production facility (QF) and will be interconnected to the transmission system owned by Southern California Edison (SCE) and operated by CAISO.  Each facility was expected to commence commercial operation by Dec. 6, 2013. All of the output from the Rosamond One facility will be sold to the City of Santa Clara under a 25-year power purchase agreement (PPA). All of the output from the Rosamond Two facility will be sold to SCE under a 20-year PPA.

The buyer of the Rosamond companies, Gamma II has two classes of membership interests:  Class A interest that are passive, non-controlling tax-equity interests, and Class B interests. The Class B interests are controlled by affiliates of Kohlberg Kravis Roberts & Co. LP (KKR), and other investment vehicles affiliated with KKR.

The passive Class A membership interests of Gamma II are wholly-owned by affiliates of Google Energy, which is controlled by the computer software company Google.

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.