Cogentrix Virginia Financing Holding Co. LLC on Nov. 13 petitioned the Federal Energy Regulatory Commission for acceptance of a Market-Based Rate Tariff effective Jan. 12, 2016, a waiver of certain Commission regulations under the Federal Power Act and the granting of certain blanket approvals.
Through its wholly-owned subsidiary, Cogentrix Virginia Financing LLC, this company currently owns 100% of the membership interests of James River Genco LLC and Portsmouth Genco Holdings LLC. James River and Portsmouth each own a 114.8 MW (nameplate rating) facility located in Virginia in the AP South submarket of the PJM Interconnection balancing authority area (BAA). The commission has authorized James River and Portsmouth to sell energy, capacity, and ancillary services at wholesale at market-based rates.
Cogentrix Virginia Financing Holding is seeking authorization to make wholesale sales of capacity, energy, and ancillary services within the PJM BAA, including the AP South, PJM East, and 5004/5005 submarkets of the PJM BAA. Except for the James River and Portsmouth facilities, it currently does not own or control any electric generation facilities.
It is directly owned by Cogentrix Power Asset Holdings LLC (50%) and Quantum Virginia Power LLC (50%). The companies are affiliated with investment manager The Carlyle Group LP.
The Cogentrix website says:
- The Portsmouth Genco LLC facility is an upgraded version of a plant originally developed and constructed by Cogentrix in 1988. It is a nominal 110 MW under-feed stoker coal-fired cogen facility located in Portsmouth, Virginia, along the banks of the Elizabeth River.
- The James River Genco LLC facility is an upgraded version of the plant originally developed and constructed by Cogentrix in 1987. It is a nominal 110-MW coal-fired cogeneration facility located in Hopewell, Virginia.