The Federal Energy Regulatory Commission on June 2 signed off on a deal by search engine company Google Inc. to buy a passive interest in a solar project in Utah.
On Feb. 6, Utah Red Hills Renewable Park LLC filed an application requesting commission authorization for the acquisition by Pelican Solar UT LLC, an indirect, wholly-owned subsidiary of Google Inc., of 100% of the non-controlling, passive, Class A Units in applicant’s upstream owner, Utah Red Hills Holdco LLC (URH Holdco). Although applicant stated that the proposed transaction may not require commission authorization, it nevertheless asked the commission to authorize the application. “This order authorizes the Proposed Transaction without making any determination of jurisdiction,” said the June 2 FERC order.
Utah Red Hills will construct, own, and operate a solar photovoltaic facility with a capacity of approximately 78.6 MW, to be located near the town of Parowan, Utah. It will be interconnected to the transmission system of PacifiCorp, and will sell its entire output and capacity to PacifiCorp under a twenty-year power purchase agreement (PPA).
Utah Red Hills is controlled by Scatec Solar North America (SSNA). SSNA is a direct, wholly-owned subsidiary of Scatec Solar ASA, which is headquartered in Oslo, Norway, and is publicly traded on the Oslo Stock Exchange.
Under this now-approved transaction, Google will become an investor through its indirect, wholly-owned subsidiary Pelican Solar.