The Federal Energy Regulatory Commission on Dec. 17 approved a Nov. 9 application from Slate Creek Wind Project LLC requesting commission authorization related to a tax equity investment.
MUFG Union Bank N.A. and one or more currently unknown additional investors will acquire from EDF Renewable Energy (EDF-RE) 100% of passive, non-managing Class A membership interests in Slate Creek Wind Holdings LLC. Slate Creek Wind Holdings will be created prior to closing of this transaction, and, as a result, will be the immediate upstream owner of Slate Creek.
Slate Creek, an exempt wholesale generator with market-based rate authority, is constructing, and will own and operate, an approximately 150-MW wind facility to be located in Sumner County, Kansas. Output from the facility will be sold under a long-term power purchase agreement. The facility will be situated within the Southwest Power Pool (SPP) market.
In addition to Slate Creek, within the SPP market, EDF-RE indirectly holds ownership interests in other entities that own and operate, or will own and operate, wind generation facilities with market-based rate authority. Once all of these facilities are operational, including Slate Creek, EDF-RE will indirectly own or control approximately 712 MW of generation within the SPP market.
MUFG Holdings also owns Bankers Commercial Corp., whose primary function is to invest in physical assets throughout the United States. Farthest upstream of MUFG Holdings and Bankers Commercial is corporate parent Mitsubishi UFJ Financial Group Inc., a publicly traded corporation organized under the laws of Japan.
EDF Trading North America LLC, EDF Energy Services LLC and EDF Industrial Power Services (CA) LLC filed with FERC on Nov. 13 a notice of change in status related to their market-based rate authorizations. The companies said they are affiliated with certain entities that will own and operate wind facilities in the SPP region. These entities are indirectly owned by their affiliate, EDF-RE. The facilities are under construction and are all expected to produce test power in the fourth quarter of 2015.
- Roosevelt Wind Project LLC is developing and will own and operate an approximately 250 MW (nameplate) wind facility and related generation interconnection facilities in Roosevelt County, New Mexico. The Roosevelt Facility will be interconnected to the transmission system owned by Southwestern Public Service (SPS). The Roosevelt Facility’s output will be sold under a long-term contract to SPS.
- Milo Wind Project LLC is developing and will own and operate a 49.65 MW (nameplate) wind facility and related generation interconnection facilities in Roosevelt County, New Mexico. The Milo Facility will be interconnected to the transmission system owned by SPS and operated by the SPP. The Milo Facility’s output will be sold into the SPS wholesale market.
- Slate Creek Wind Project LLC was created to develop, construct, own and operate an approximately 150 MW (nameplate) wind facility in Sumner County, Kansas. The Slate Creek facility will be interconnected to the transmission system owned by Westar Energy and operated by SPP, with the output sold under a long-term contract to Kansas City Power & Light (KCP&L).