Deal for Gestamp to buy shares in Nebraska wind farm approved by FERC

The Federal Energy Regulatory Commission on March 16 okayed a change in ownership for passive Class B shares in the owner of a Nebraska wind farm.

On Jan. 21, TPW Petersburg LLC applied for authorization for the acquisition by Gestamp Wind Cedar Rapids LLC of 100% of the passive, Class B shares in Gestamp Petersburg Holdings LLC from Firstar Development LLC.

TPW Petersburg is an Exempt Wholesale Generator with market-based rate authority. It owns and operates a 40.5-MW wind facility located in Boone County, Nebraska, within the Southwest Power Pool (SPP) footprint. The TPW Petersburg Facility is a qualifying small power production facility (QF) and is interconnected to the transmission system owned by the Nebraska Public Power District and operated by SPP.

Gestamp Petersburg Holdings is the parent company of TPW Petersburg. The Class A non-passive membership interests in Gestamp Petersburg Holdings are owned 95% by Gestamp Wind Cedar Rapids and 5% by Gestamp Wind Petersburg Inc. Gestamp Wind Cedar Rapids and Gestamp Wind Petersburg are wholly owned subsidiaries of Gestamp Wind Energy North America, which in turn is wholly owned by Gestamp Eolica S.L. out of Spain.

Firstar Development owns all of the passive Class B membership interests in Gestamp Petersburg Holdings. Firstar Development is an indirect, wholly owned subsidiary of U.S. Bancorp. Under this now-approved transaction, Gestamp Wind Cedar Rapids will acquire 100% of the passive Class B shares in Gestamp Petersburg Holdings from Firstar Development. 

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.