Latigo Wind Park LLC, which has a wind project in Utah that is due for commercial operation in December, applied Oct. 27 at the Federal Energy Regulatory Commission for approval of the sale of passive investments in the company.
The company has a 62.1-MW wind facility currently under development in San Juan County, Utah (called the “Latigo Project”). The passive investment would be through an Equity Capital Contribution Agreement among Latigo Wind Park LLC, Latigo Wind Managing Member LLC (Latigo MM) and EFS Renewables Holdings LLC (EFS). Upon consummation of this transaction, EFS will acquire a passive, non-controlling interest in Latigo Wind Park as a tax equity investor.
The company requested that the commission authorize the transaction as soon as possible after the comment period expires, but in any event no later than Dec. 2.
The output of the Latigo Project will be generated and sold within the PacifiCorp East (PACE) balancing authority area (BAA) in the Northwest region. Applicant expects to begin generating test power from the Latigo Project in November 2015 and to achieve commercial operation in December 2015. Applicant is committed to sell the entire output from the Latigo Project under a 20-year power purchase agreement with PacifiCorp.
Latigo Wind Park has submitted an application to the commission for authorization under Section 205 of the Federal Power Act to make wholesale sales of electric energy, capacity, and ancillary services at market-based rates, has filed a notice with the commission of the Latigo Project’s status as a qualifying small power production facility and has filed a notice of self-certification of Exempt Wholesale Generator status under the Public Utility Holding Company Act of 2005. It will own no transmission facilities other than limited interconnection facilities needed to connect the Latigo Project with the PacifiCorp d/b/a Rocky Mountain Power transmission system.
Latigo Wind Park is currently a wholly-owned subsidiary of Sustainable Power Group LLC (sPower), which in turn is a wholly-owned subsidiary of FTP Power LLC. After the closing of this transaction, FTP will continue to have control over applicant through its control over Latigo MM. The passive investor, EFS, is an indirect, wholly-owned subsidiary of General Electric (NYSE: GE).