Land of the Sky MT LLC, which will lease a nearly-completed solar project in North Carolina, applied Sept. 17 at the Federal Energy Regulatory Commission for authorization to sell electric energy, capacity, and ancillary services at market-based rates.
Under a Master Lease Agreement between Eden Solar LLC as lessor, and Land of the Sky MT as lessee, Land of the Sky MT will operate a solar photovoltaic project with a nameplate capacity rating of 62 MW (dc) (about 47.7 MW ac) that is currently under development in Richmond County, North Carolina. As lessee under the Master Lease Agreement, applicant will have control over the operation and dispatch of the Eden Solar Project.
The Eden Solar Project will be located within the Duke Energy Progress balancing authority area in the Southeast region. Applicant intends to file a notice with the commission of its status as an exempt wholesale generator prior to the Eden Solar Project reaching commercial operation. The project is expected to begin testing in October 2015 and to enter commercial operation in December 2015. Eden Solar is committed to sell the entire output from the Eden Solar Project under a 15-year power purchase agreement with Duke Energy Progress.
In conjunction with the execution and delivery of the Master Lease Agreement, Eden Solar will assign the Eden Solar PPA to applicant and applicant will assume all of Eden Solar’s obligations thereunder.
Applicant is a member-managed limited liability company, with one controlling member, Firstar Development LLC. Firstar is a wholly owned, indirect subsidiary of U.S. Bancorp (USB). USB, through its wholly-owned subsidiary, Firstar, also indirectly owns passive, non-voting interests in qualifying facilities, EWGs, and power marketers throughout the United States. Firstar primarily serves as USB’s tax equity investment arm for its renewable energy portfolio.
Land of the Sky MT on Sept. 18 also filed with FERC a notice of self-certification as an exempt wholesale generator.
A company contact is: Land of the Sky MT LLC c/o Firstar Development LLC, 1307 Washington Street, Suite 300, St. Louis, MO 63103, Attn: Director of ITC Asset Management, Project No. 23744, firstname.lastname@example.org.