The Federal Energy Regulatory Commission on June 26 approved a coal-fired power plant ownership change involving Traxys Power Group.
On May 29, White Pine Electric Power LLC and UP Power Marketing LLC filed an application for authorization in connection with an indirect change in the upstream ownership of these applicants resulting from a two-step transaction.
- First, in an internal corporate reorganization, Traxys North America LLC will transfer 100% of the outstanding shares of Traxys Power Group, which owns 100% of the equity interests in the applicants, to its wholly-owned subsidiary, TPG Power Holdings LLC.
- Second, subsequent to that transfer, TPG Power will sell its entire interest in Traxys to PPS USA Holdings (PPS USA), which is a wholly-owned subsidiary of Prairie Plant Systems Inc.
White Pine owns and operates three coal-fired steam-turbine generating units with a total nameplate capacity of 60 MW located in White Pine, Mich., within the Midcontinent Independent System Operator (MISO) balancing authority area (BAA) in the Central region. Existing boiler capacity limits the power these facilities are capable of delivering to the interstate grid to 40 MW. White Pine sells energy, capacity and/or ancillary services pursuant to its market-based rate tariff under a long-term contract with Upper Peninsula Power.
Prairie Plant is a biotechnology company headquartered in Saskatoon, Saskatchewan, Canada, that manufactures pharmaceuticals derived from harvestable plants.
The contact for the company is: Brent Zettl, President and CEO, Prairie Plant Systems Inc., 1 Plant Technology Road, Box 19A, R.R. No. 5, Saskatoon, SK S7K3J8, Tel: (306) 975-1207, Fax: (306) 975-0440, email@example.com.