The Federal Energy Regulatory Commission on Oct. 6 approved a Sept. 8 application from SunE Solar XVII Project3 LLC for a proposed transaction in which SunEdison Inc. or one of its wholly owned subsidiaries will sell its membership interests in SunE Project3 to TerraForm Solar XVII Project Holdings LLC.
SunE Project3 is constructing and will own and operate a 3-MW solar facility in Cedar City, Utah. SunE Project3 states that it is party to the Shared Facilities Agreement and that it has self-certified the Facility as a qualifying small power production facility (QF). The agreement governs certain interconnection facilities that SunE Project3 shares with its affiliates, SunE Solar XVII Project1 LLC and SunE Solar XVII Project2 LLC.
The buyer is controlled by TerraForm Power, a yieldco affiliate of SunEdison. JPM Capital Corp. owns all of the Class B Units of Terraform Solar XVII and has limited consent rights that are consistent with passive ownership.