The Federal Energy Regulatory Commission on Dec. 12 approved a change in passive ownership for Oklahoma wind project developer Mammoth Plains Wind Project LLC.
On Nov. 5, Mammoth Plains Wind Project requesting commission authorization for the acquisition by JPM Capital Corp. (JPMCC) or a wholly owned subsidiary of JPMCC, and by EFS Renewable Holdings LLC (EFS-R) of 100% of the Class B Membership Interests in Mammoth Plains. The Class B Membership Interests to be acquired in the transaction are passive tax equity interests, which will not give the investors a voice in the day-to-day public utility activities of Mammoth Plains.
Mammoth Plains is an exempt wholesale generator (EWG) with market-based rate authority. Mammoth Plains will own and operate an approximate 200-MW wind facility located in Dewey and Blaine counties, Oklahoma, within the Southwest Power Pool (SPP) footprint. The facility will interconnect with the transmission system of Oklahoma Gas & Electric. Mammoth Plains has entered into a long-term PSA with Southwestern Public Service for 100% of the outputof the facility.
Mammoth Plains is ultimately controlled by NextEra Energy Resources LLC, a wholly owned direct subsidiary of NextEra Energy (NYSE: NEE).
Buyer JPMCC is an indirect, wholly owned subsidiary of JPMorgan Chase & Co., a financial holding company.
The other buyer, EFS-R, is a wholly owned subsidiary of Aircraft Services Corp., which itself is a wholly owned subsidiary of General Electric Capital Corp. General Electric Capital is a wholly owned subsidiary of General Electric (NYSE: GE).