Due to a delay with its project, Cottonwood Solar LLC on March 27 asked the Federal Energy Regulatory Commission for a 45-day delay on the effectiveness of its market-based rate authority.
On Dec. 15, 2014, Cottonwood Solar filed an application for market-based rate authority, requesting that the commission approve its market-based rate tariff to be effective as of the closing of a transaction that would transfer Cottonwood from EDF Renewable Development to Dominion Solar Holdings. On Feb. 11, the commission granted Cottonwood’s request for market-based rate authority and agreed to abstain from assigning an effective date for Cottonwood’s market-based rate tariff until consummation of the transaction. The commission also stated that absent such notification the tariff would become effective April 13.
Due to delays in the project schedule, the transaction may not close by April 13, Cottonwood told the commission on March 27. Accordingly, Cottonwood requested a 45-day extension until May 28.
Cottonwood Solar is developing three separate solar photovoltaic facilities: the 12-MW Goose Lake Facility in Kern County, California; the 11-MW City of Corcoran Facility in Kings County, California; and the 1-MW Marin Carport in Marin County, California. All three facilities, to be in-service in 2015, will be in the California Independent System Operator balancing authority area (BAA) and will interconnect to transmission owned by Pacific Gas & Electric (PG&E). The output of each is fully committed under a single 25-year Power Purchase Agreement with Marin Clean Energy.
The planned project buyer, Dominion Solar Holdings, is a direct, wholly owned subsidiary of Dominion Energy, which is a direct, wholly owned subsidiary of Dominion Resources (NYSE: D).