FERC okays sale of passive stakes in EDP wind projects in California

The Federal Energy Regulatory Commission on Dec. 15 approved a passive ownership change for two companies with wind power projects that are due for commercial operation this month.

On Oct. 31, Rising Tree Wind Farm LLC (Rising Tree I) and Rising Tree Wind Farm II LLC sought FERC 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 the applicants from EDP Renewables North America LLC to Bankers Commercial Corp. and potentially one or more unidentified investors.

Following the proposed transaction, these new investors will own 100% of the Class B membership interests in 2014 Vento XII LLC, a newly created direct owner of the applicants.

  • Rising Tree I is constructing and will own and operate an approximately 80-MW wind facility located in Kern County, California. The Rising Tree I Facility will achieve commercial operation on or about Dec. 31, 2014. The Rising Tree I Facility will be interconnected to the transmission system owned by Southern California Edison (SCE) and operated by the California Independent System Operator (CAISO). Rising Tree I will share ownership of certain common facilitiesnecessary for the development and operation of the Rising Tree I Facility with affiliates that intend to develop co-located generation projects.
  • Rising Tree II is constructing and will own and operate a 19.8-MW wind facility located in Kern County, California. The Rising Tree II Facility will achieve commercial operation on or about Dec. 31, 2014. The Rising Tree II Facility will be interconnected to the transmission system owned by SCE and operated by CAISO. Rising Tree II will share ownership of certain common facilities necessary for the development and operation of the Rising Tree II Facility with affiliates that intend to develop co-located generation projects.

EDP Renewables is also affiliated with the following entities that are developing or that own or control generation in the CAISO market:

  • Rising Tree Wind Farm III LLC, which is developing and will construct, own, and operate a 99-MW wind facilitylocated in Kern County, California. The Rising Tree III Facility will achieve commercial operation on or about June 30, 2015.
  • Lone Valley Solar Park I LLC, which owns and operates a 10-MW solar facility located in San Bernardino County, California.
  • Lone Valley Solar Park II LLC, which owns and operates a 20-MW solar facility located in San Bernardino County, California.
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.