The Federal Energy Regulatory Commission on Dec. 18 okayed a Nov. 3 application from Waverly Wind Farm LLC for an approval related to a tax equity transaction that involves the issuance of indirect non-managing membership interests in the company to Oz Wind LLC or an affiliate of Oz Wind.
Following the transaction, Oz Wind or its affiliate will directly own 100% of the non-managing Class B membership interests in 2015 Vento XIV LLC, and EDP Renewables North America (EDPRNA), the current owner of 100% of the membership interests in Waverly Wind, will indirectly own 100% of the managing Class A membership interests in Vento XIV.
Waverly Wind is an exempt wholesale generator (EWG) with market-based rate authority. It is constructing and will own and operate a 199-MW wind facility located in Coffey County, Kansas, that has an in-service date of approximately December 2015. The facility will be interconnected to the transmission system owned by Westar Energy, which is operated by the Southwest Power Pool.
The entire output of the facility will be sold to Kansas City Power & Light under a 20-year long-term power purchase agreement.
Oz Wind is a wholly owned indirect subsidiary of Alphabet Inc., a technology company focused on web-based service that is the parent company of Google Inc. Alphabet’s wholly owned indirect subsidiary Google Energy LLC, which is a power marketer with market-based rate authority.