The Federal Energy Regulatory Commission on April 22 approved a change-in-control related to companies holding landfill gas- and oil-fired power facilities that are being sold to Castleton Commodities International LLC.
On March 31, Ingenco Holdings LLC, Ingenco Wholesale Power LLC, Collegiate Clean Energy LLC and CCI U.S. Asset Holdings LLC filed an application requesting authorization for the disposition of jurisdictional facilities in which CCI Holdings will acquire from Ingenco Holdings ownership of Ingenco Wholesale and Collegiate Clean.
Ingenco Holdings has its principal place of business in Richmond, Virginia. Through its subsidiaries, Ingenco Holdings is engaged in the business of manufacturing, building, owning and operating small renewable energy, distributed generation projects using landfill gas and recycled oil products. Ingenco Holdings directly owns 100% of the ownership interests in Collegiate Clean and Ingenco Renewable Development LLC, and indirectly owns, through its 100% ownership interests in Industrial Power Generating Co. LLC, 100% of the ownership interests in Ingenco Wholesale.
Ingenco Wholesale owns and operates fifteen landfill gas and recycled oil-fueled generating facilities in Maryland, North Carolina, Pennsylvania and Virginia, with a total capacity of approximately 145 MW. None of the facilities has a capacity exceeding 16 MW. All fifteen facilities sell their capacity and energy into markets operated by PJM Interconnection. All but four of the facilities are qualifying facilities (QFs) under the Public Utility Regulatory Policies Act of 1978, as amended. Ingenco Wholesale is authorized to sell power at market-based rates and is an exempt wholesale generator (EWG) under the Public Utility Holding Company Act of 2005.
- Collegiate Clean was formed primarily to make sales of renewable energy to colleges, universities and other businesses. Collegiate Clean is a licensed competitive retail electric service provider and aggregator in Virginia and a licensed electricity broker in Maryland. Collegiate Clean does not own any generating facilities. The commission has authorized Collegiate Clean authority to sell power at market-based rates.
- Ingenco Renewable develops, constructs, owns and operates renewable energy plants. It owns and operates two landfill gas electric generating facilities located in North Carolina and Virginia. Both are qualifying facilities (QFs). One, with a capacity of about 4 MW, sells its capacity and energy into markets operated by PJM Interconnection. The other, with a capacity of about 6 MW, sells it capacity and energy under a Power Purchase Agreement with Duke Energy Progress. Ingenco Renewable also owns two landfill-gas-to-electricity projects that are under development. The to-be-constructed facilities are certified as QFs.
The buyer, CCI Holdings, has three public utility subsidiaries: Castleton Commodities Merchant Trading LP, Roseton Generating LLC and CCI Rensselaer LLC. CCI Holdings is a direct wholly-owned subsidiary of Castleton Commodities International LLC. Through its wholly-owned subsidiaries, Castleton Commodities International engages in the marketing of physical energy commodities, including electricity, natural gas, natural gas liquids, refined products, crude oil and coal, as well as related financial instruments, and owns and operates electric generation facilities and other energy assets.
Under an Equity Purchase Agreement dated March 17, CCI Holdings will indirectly acquire from Ingenco Holdings all of the outstanding membership interests of Industrial Power Generating (which directly owns Ingenco Wholesale), Collegiate Clean and Ingenco Renewable. Following consummation of the proposed transaction, CCI Holdings will indirectly own Ingenco Wholesale and Collegiate Clean.