The Federal Energy Regulatory Commission on Nov. 5 approved a Sept. 4 application from Grant Wind LLC for authorization of a transaction whereby Southern Renewable Energy Inc. will acquire 100% of the membership interests in Grant Wind from a direct or indirect wholly owned subsidiary of Apex Clean Energy Holdings LLC.
Grant Wind is an exempt wholesale generator with market-based rate authority that is developing and will own and operate a 150-MW wind facility located in Grant County, Oklahoma, within the balancing authority area (BAA) of the Southwest Power Pool (SPP). The Grant Wind Facility will interconnect with the transmission system owned by Oklahoma Gas and Electric and operated by SPP.
All of the generation capacity of the Grant Wind Facility is fully committed on a long-term basis to unaffiliated purchasers. Grant Wind has entered into long-term power purchase agreements (PPAs) with East Texas Electric Cooperative, Northeast Texas Electric Cooperative and Western Farmers Electric Cooperative. The wind farm is due for commercial operation early next year.
Apex Clean Energy Holdings is a privately held company comprised of 71 members, all of whom hold passive interests in the company.
Southern Renewable Energy is a wholly owned subsidiary of Southern Power, which is part of Southern Co. (NYSE: SO).