FERC okays sale by Quantum of 40-MW wind project in Maine to SunEdison

The Federal Energy Regulatory Commission on Nov. 17 approved a Sept. 29 application from Passadumkeag Windpark LLC for authorization for the transfer and sale of its membership interests by Quantum Wind Acquisition I LLC to Passadumkeag Wind Holdings LLC.

That purchasing company will either be: a wholly owned indirect subsidiary of SunEdison Inc. or an entity in which SunEdison owns 100% of the voting securities and one or more yet-to-be identified equity investors will own passive interests; or indirectly majority owned by IIF US Holding 2 LP (IIF Investor), and minority owned by a wholly owned subsidiary of SunEdison or a SunEdison-controlled subsidiary, with either SunEdison or IIF Investor acting as the managing member of the buyer.

Passadumkeag Windpark is an exempt wholesale generator with market-based rate authority, and will own and operate a 40-MW wind facility located near Bangor, Maine, within the ISO New England market. The facility is expected to commence operation in December 2015. It will sell approximately 38.46 MW to Western Massachusetts Electric Co. under a long-term power purchase agreement.

Seller Quantum Wind is focused on the development and acquisition of generation assets. Quantum Wind’s sole and managing member is Quantum Funding LLC

The buyer is a wholly owned subsidiary of SunEdison that was formed for the purpose of acquiring upstream interests in the applicant.

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.