The Federal Energy Regulatory Commission on Dec. 22 approved an Oct. 28 application from Latigo Wind Park LLC for commission authorization related to a 62.1-MW wind facility currently under development in San Juan County, Utah, within the PacifiCorp-East (PACE) balancing authority area.
Under an Equity Capital Contribution Agreement, Latigo Wind Managing Member LLC (Latigo MM) and EFS Renewables Holdings LLC (EFS) will acquire direct membership interests in Latigo Wind. Latigo MM, as owner of 100% of the controlling Class B Membership Interests will have the right to control Latigo Wind on a day-to-day basis, and EFS, as owner of 100% of the non-controlling, passive Class A Membership Interests, will have only limited rights.
Latigo Wind expects to achieve commercial operation of this project in December 2015 and has committed to sell the entire output from the project under a 20-year power purchase agreement with PacifiCorp.
Latigo Wind is currently a wholly owned subsidiary of Sustainable Power Group LLC (sPower), which is a wholly owned subsidiary of FTP Power LLC.
Latigo MM is a wholly owned subsidiary of sPower, and therefore an indirect subsidiary of FTP. EFS is an indirect, wholly owned subsidiary of General Electric (NYSE: GE).