The Federal Energy Regulatory Commission on Dec. 1 approved a deal that would allow a buy of 100% of the Class B interests of a wind project developer with two wind farms in California that are about to go into operation.
On Oct. 31, Rising Tree Wind Farm LLC (Rising Tree I) and Rising Tree Wind Farm II LLC requested commission authorization for the disposition of jurisdictional facilities that may result from a tax equity transaction that involves the sale of certain indirect membership interests in these project companies from EDP Renewables North America LLC to Bankers Commercial Corp. Under this deal, Bankers Commercial will own 100% of the Class B membership interests in 2014 Vento XII LLC, a newly created direct owner of the two wind project companies.
- Rising Tree I has an 80-MW wind project in Kern County, California, that is in construction and expected to achieve commercial operation at the end of this year. The project will interconnect with Southern California Edison.
- Rising Tree II is constructing and will own and operate a 19.8-MW wind facility located in Kern County, California, which will also achieve commercial operation on or about Dec. 31, 2014. Rising Tree II will also be interconnected to the transmission system owned by Southern California Edison.
EDP Renewables develops, owns, and operates, on behalf of or through wholly or partially-owned subsidiaries or affiliates, renewable electric generation facilities throughout the United States.