The Federal Energy Regulatory Commission on March 4 signed off on the sale of the Hoopeston Wind LLC project in Illlinois to an affiliate of home furnishings company IKEA.
In October 2014, Hoopeston Wind requested authorization for Apex Wind I LLC, the direct owner of Hoopeston Wind, to sell 100% of its membership interest in Hoopeston Wind to IKEA Energy US LLC. Apex Wind is a wholly-owned subsidiary of Apex Clean Energy Holdings LLC.
Hoopeston Wind owns and is developing a 98-MW wind facility located in Vermilion County, Illinois, in the Midcontinent Independent System Operator (MISO) market. The Hoopeston Facility will interconnect with the transmission system owned by Ameren Services Co., as agent for Ameren Illinois Co. The Hoopeston Facility was scheduled to become commercially operational on or about Jan. 15, 2015.
Apex Holdings through its subsidiaries, develops, constructs, owns and operates utility-scale renewable energy facilities and assets across the United States.
The buyer IKEA Energy is a wholly-owned subsidiary of IKEA Property Inc., which in turn is a wholly-owned subsidiary of IKEA Holding US Inc. IKEA Holding US is indirectly wholly-owned by INGKA Holding B.V. and The Stichting INGKA Foundation, both of which are based in the Netherlands. IKEA Holding US and its affiliates are in the retail furniture business, constructing and operating retail stores and wholesale warehouses throughout the United States. IKEA Energy invests in renewable energy facilities that contribute to the IKEA group of companies’ goal to generate renewable energy. IKEA Property owns and operates directly or indirectly two solar photovoltaic generating facilities in MISO, one with a nameplate capacity of 0.8 MW in Canton, Michigan, and a second with a nameplate capacity of 1.0 MW in Bloomington, Minnesota.
The members of the Federal Energy Regulatory Commission on Feb. 23 had granted Hoopeston Wind authority to make wholesale sales of electric energy, capacity, and ancillary services at market-based rates.