Firstar approved by FERC for buy of California solar interests

The Federal Energy Regulatory Commission on Aug. 1 approved the sale by EDP Renewables North America LLC to Firstar Development LLC of equity interests in two solar project development companies in California.

Lone Valley Solar Park I LLC will construct, own and operate a 10-MW solar facility located in San Bernardino County, Calif., called the Lone Valley I Facility. Expected to achieve commercial operation in September 2014, the Lone Valley I Facility will be interconnected to the transmission system owned by Southern California Edison (SoCal Edison) and operated by the California Independent System Operator (CAISO).

Lone Valley Solar Park II LLC will construct, own and operate a 20-MW solar facility located in San Bernardino County. Anticipated to achieve commercial operation in September 2014, the Lone Valley II Facility will be interconnected to the transmission system owned by SoCal Edison and operated by CAISO.

The entire output from both projects will be sold to SoCal Edison under long-term contracts.

The seller, EDP Renewables, develops, owns and operates renewable electric generation facilities. The buyer, Firstar, is a subsidiary of U.S. Bancorp.

Firstar owns passive, non-voting interests in qualifying facilities, exempt wholesale generators and power marketers. In this deal, Firstar will only acquire non-managing Class B interests in an intermediary company and will therefore not acquire any day-to-day control over the project companies.

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.