The Federal Energy Regulatory Commission on Dec. 10 approved the sale of ownership interests in two wind project companies in Colorado and a related company that provides interconnection services.
On Nov. 10, Spring Canyon Energy II LLC, Spring Canyon Energy III LLC and Spring Canyon Interconnection LLC filed an application for commission authorization for the disposition of jurisdictional facilities. Specifically, JPM Capital Corp. will acquire from Spring Canyon Expansion Holdings LLC Class A membership interests, which are passive and non-controlling, in the applicant companies; and Spring Canyon Class B Holdings will exchange or convert its existing membership interests in SCE Holdings to Class B membership interests.
Spring Canyon II and Spring Canyon III are exempt wholesale generators (EWGs) with market-based rate authority. Spring Canyon II owns and operates an approximately 34-MW wind facility located in Logan County, Colorado. Spring Canyon III is constructing, and will own and operate, an approximately 28-MW facility, also in Logan County, Colorado. Spring Canyon II owns or plans to own, and Spring Canyon III will own, interests in radial electric interconnection facilities necessary to effectuate wholesale power sales from their respective facilities. Power produced from the facilities will be sold under long-term agreements. Each of the facilities is situated in within the Public Service Company of Colorado balancing authority area (PSCo BAA).
The applicants are indirect, wholly-owned subsidiaries of SCE Holdings, which is directly and solely owned by Class B Holdings. Class B Holdings is indirectly wholly-owned by Invenergy Wind, which is indirectly majority-owned and controlled by Invenergy Investment Co. LLC.
JPM Capital is an indirect, wholly-owned subsidiary of JPMorgan Chase & Co., an international financial services company.
Class B Holdings will directly, and Invenergy Investment indirectly, will continue to own the controlling interests in the applicants.