PowerMinn 9090 LLC, Fibrominn LLC, Benson Power LLC and CPV Biomass Holdings LLC on Feb. 18 applied for Federal Energy Regulatory Commission authorization related to a state court-supervised transfer of a 64 MW (nameplate) poultry-litter and other biomass-fueled facility located in Benson, Minnesota, from PowerMinn and Fibrominn to Benson.
The facility is currently owned by PowerMinn and leased and operated by Fibrominn. Under the proposed transaction, Benson will acquire the facility in a receivership sale. Following the transaction, PowerMinn and Fibrominn will be dissolved, Benson will become the owner and operator of the facility, and CPV Biomass will become the managing member of Benson.
The parties asked for a quick FERC decision, since they intend to close the transaction as soon as the court approves the receivership sale, which is anticipated on or before the end of March.
Fibrominn leases and operates the facility, which is interconnected with Great River Energy and is located within the footprint of the Midcontinent Independent Transmission System Operator. Fibrominn sells all of the output of the Facility to Northern States Power d/b/a Xcel Energy (NSP) under a long-term contract.
PowerMinn is wholly owned by PowerMinn Holdings LLC, which in turn is wholly owned by Unagi LLC. Fibrominn is wholly owned by Fibrominn Holdings LLC, which is also wholly owned by Unagi. Unagi is a wholly-owned subsidiary of ContourGlobal LP, which is a multinational energy solutions and power plant development and operation partnership with assets primarily in Africa, the Caribbean, South America, and Europe.
Benson Power has various ownership parties, including CPV Biomass (which is a subsidiary of Competitive Power Ventures), and outside investors like The Prudential Insurance Company of America and PRUCO Life Insurance Co. Neither CPV Biomass nor its affiliates own or control any generation in the MISO Balancing Authority Area (BAA).
Benson Power filed on Jan. 30 with FERC for market-based rate authority related to this power plant.