FERC okays Enbridge deal to buy into Indiana wind farm

The Federal Energy Regulatory Commission on Dec. 24 cleared the purchase by Enbridge Inc. of a majority stake in an Indiana wind farm company.

On Nov. 26, Wildcat Wind Farm I LLC and Enbridge Inc. requested commission authorization for the disposition of jurisdictional facilities in connection with a transaction in which Enbridge Wild Valley Holdings LLC (Enbridge WVH), a subsidiary of Enbridge, will indirectly acquire 80% of the membership interests in Wildcat I.

Wildcat I owns a 202.5-MW wind facility located in Madison and Tipton counties, Indiana. It is interconnected with the transmission system owned by Michigan Power Co., within the PJM Interconnection balancing authority area (BAA). The commission granted Wildcat I market-based rate authorization in 2012. Wildcat I has contracted to sell 115 MW of its output under long-term power purchase agreements with non-affiliates.

Wildcat I is a direct, wholly-owned subsidiary of EC&R Investco Mgmt LLC (EC&RIM). EC&RIM is a direct, wholly-owned subsidiary of E.ON Climate & Renewables North America LLC (ECRNA). EC&RIM holds 100% of the Class B (voting and controlling) membership interests in Wildcat I. The Class A (passive, non-controlling, non-managing) membership interests in Wildcat I are held by JPM Capital Corp. or an affiliate thereof, Wells Fargo Wind Holdings LLC or an affiliate thereof, and Antrim Corp., and were acquired for tax equity purposes.

Enbridge is a publicly-traded Canadian company and is primarily engaged in the transportation and distribution of crude oil, natural gas liquids, refined products and natural gas in portions of the United States and Canada.

Enbridge has established Enbridge WVH as a wholly-owned, special purpose entity subsidiary to acquire the 80% membership interest in Magicat Holdco LLC, which in turn, will be the direct parent company of Wildcat I upon the closing of the proposed transaction. Enbridge WVH is an indirect wholly-owned subsidiary of Enbridge Energy Co. Inc., which, in turn, is an indirect wholly-owned subsidiary of Enbridge.

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.