8point3 seeks FERC okay for dropdown of newly-operational solar project in Colorado

8point3 Energy Partners LP and Solar Star Colorado III LLC applied Feb. 24 at the Federal Energy Regulatory Commission for authorization for the sale by SunPower Corp. of indirect equity interests in Solar Star Colorado III to 8point3 Operating Co. LLC, a company controlled and partially owned by 8point3 Partners.

This is the latest in a series of transactions involving the transfer of assets from 8point3 Partners’ sponsors, SunPower and First Solar, to “yieldco” affiliate 8point3 Partners. The applicants asked for a FERC approval by March 28.

Solar Star Colorado III was formed for the purpose of developing, constructing, owning, and operating the Hooper Solar Project, an approximately 52-MW (nameplate) photovoltaic facility located in Alamosa County, Colorado. The project is located in the balancing authority area of Public Service Co. of Colorado (PSCo).

The project first produced and sold power in November 2015. All of its net output is sold to PSCo under two power purchase agreements (PPAs), consisting of a short-term PPA through about October 2016 and a long-term PPA for the next 20 years.

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.