NRG Energy completes ‘drop down’ of latest power assets to NRG Yield

NRG Energy (NYSE: NRG) told the Federal Energy Regulatory Commission in a Jan. 9 filing that it has completed, as of Jan. 2, the sale of several power facilities to NRG Yield (NYSE: NYLD), a “yieldco” affiliate that NRG Energy created to take on in a series of transactions over time its power plants with stable revenues.

On Jan. 2, NRG Yield indirectly acquired NRG Energy’s indirect interests in the following entities pursuant to a June 2014 blanket authorization from FERC:

  • Laredo Ridge Wind LLC, a qualifying facility (QF) and exempt wholesale generator (EWG) that owns and operates an approximately 80 MW (nameplate) wind facility in Boone County, Nebraska, in the Nebraska Public Power District balancing authority area (BAA);
  • Pinnacle Wind LLC, an EWG that owns and operates an approximately 55 MW (nameplate) wind facility in Mineral County, West Virginia (PJM Interconnection market);
  • Taloga Wind LLC, an EWG that owns and operates an approximately 130 MW (nameplate) wind facility in Dewey County, Oklahoma (Oklahoma Gas and Electric BAA); and
  • Walnut Creek Energy LLC, an EWG that owns and operates an approximately 500 MW (summer rating) natural gas-fired facility in the City of Industry, California (California Independent System Operator market).

 

NRG Yield also indirectly acquired NRG Energy’s indirect interests in Buffalo Bear LLC, a QF that owns and operates an approximately 19 MW (nameplate) wind facility in Harper County, Oklahoma (Western Farmers Electric Cooperative BAA). Buffalo Bear is a QF eligible for the exemption from Section 203 of the Federal Power Act. Accordingly, the blanket authorization granted in the June 2014 order was not required for the transfer of NRG Energy’s interests in Buffalo Bear. 

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.