The Federal Energy Regulatory Commission on Dec. 1 approved the purchase by ALLETE Clean Energy Inc. of a 108-MW wind facility in Iowa.
On Oct. 31, Storm Lake Power Partners I LLC and ALLETE Clean Energy sought FERC authorization for a transaction in which MWW Holdings LLC will acquire 100% of the membership interests in Storm Lake I. ALLETE Clean Energy is a wholly owned subsidiary of ALLETE Inc. (NYSE: ALE) that was formed to own or develop renewable projects throughout North America. ALLETE Clean Energy, through its indirect, wholly owned subsidiary ACE Mid-West Holdings LLC, owns MWW Holdings. Through ACE Mid-West, ALLETE Clean Energy owns two wind facilities in the Midcontinent Independent System Operator balancing authority area (BAA) with a combined capacity of 184 MW and one wind facility with a capacity of approximately 50 MW in the Bonneville Power Administration BAA.
Storm Lake I owns and operates an approximately 108-MW wind facility in Alta, Iowa. The Storm Lake Facility is interconnected with the transmission grid controlled by MISO. The entire output is sold to MidAmerican Energy under a power purchase agreement. The membership interests of Storm Lake I were previously held by NRG Wind’s subsidiaries, Mission Iowa Wind LLC (99%) and Viento Funding LLC (1%), but pursuant to an internal corporate reorganization, the membership interests were transferred to NRG Wind, which is part of NRG Energy (NYSE: NRG).
As a result of the proposed transaction, Storm Lake I will become an indirect subsidiary of ALLETE Clean Energy instead of NRG Energy.