FERC approval sought for passive investors in 200-MW Goodwell Wind project

Goodwell Wind Project LLC applied Oct. 6 at the Federal Energy Regulatory Commission for authorization related to the planned acquisition by JPM Capital Corp. (JPMCC), MetLife Capital Credit LP and Bank of New York Mellon, or a direct or indirect subsidiary thereof, of non-controlling, passive equity interests in Goodwell Wind.

Goodwell Wind owns a wind project with a nameplate rating of 200 MW in Texas County, Oklahoma, and Hansford County, Texas. The Goodwell Project, which will interconnect with the electric transmission system owned by Southwestern Public Service (SPS) in the Southwest Power Pool (SPP) region, is expected to begin testing in Fall 2015 and be completed during December 2015.

Goodwell Wind has applied to the commission for market-based rate authority and has self-certified as an exempt wholesale generator. Goodwell is committed to sell the full output of the Goodwell Project under a 20- year power purchase agreement with Public Service Company of Oklahoma.

Goodwell is indirectly controlled by Enel Green Power North America and EFS Green Power Holdings LLC. EFS is part of General Electric Capital Corp.

JPMCC is an indirect, wholly-owned subsidiary of JPMorgan Chase & Co., an international financial services company. The filing noted that JPMCC is party to proposed transactions in which it plans to acquire non-managing interests in the following two companies that are developing wind projects in the SPP region:

  • Breckinridge Wind Project LLC is developing an approximately 98.1 MW wind project in Garfield County, Oklahoma. 
  • Buckeye Wind Energy LLC is constructing and will own and operate an up to 200.5 MW wind facility located in Kansas. 

MetLife Capital is a wholly owned subsidiary of Metropolitan Life Insurance Co. BNY Mellon is a New York state chartered bank and is a wholly owned subsidiary of The Bank of New York Mellon Corp. Enel would still control the project after this deal is done.

A company contact is: Stephen Champagne, Executive Vice President & General Counsel, Enel Green Power North America Inc., One Tech Drive, Suite 220, Andover, MA 01810, Telephone: (978) 296-6812,  steve.champagne@enel.com.

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.