Greenleaf Energy Unit 1 LLC on Feb. 24 applied with the Federal Energy Regulatory Commission for various approvals, including authorization for Greenleaf Unit 1 to sell electric energy and capacity at wholesale and make sales of ancillary services at market-based rates.
Greenleaf Unit 1 owns an existing, gas-fired generating facility located in Yuba City, California. Greenleaf Unit 1 has entered into a Management Designation Agreement (MDA) with Greenleaf Power Management LLC (GPM), whereby GPM has assumed all operational and management control over the Greenleaf Unit 1 Project.
The electrical output of the Greenleaf Unit 1 Project is fully committed under a long-term power purchase agreement (PPA) with Pacific Gas & Electric (PG&E). GPM has full management control and operational decision-making authority over the Greenleaf Unit 1 Project and all contracts relating thereto, including the PPA, pursuant to the MDA.
This Feb. 24 application for market authority is being made to preserve an option for Greenleaf Unit 1 to sell power from its facility in its own name upon the eventual expiration or amendment of the MDA, or sale or other transfer of the membership interests in Greenleaf Unit 1.
Greenleaf Energy Holdings LLC owns all of the membership interests in Greenleaf Unit 1. GPM owns all managing membership interest in Greenleaf Holdings, and Bankers Commercial Corp. owns all passive membership interests in Greenleaf Holdings. GPM is a wholly-owned subsidiary of FTI Consulting Inc., which is publicly traded on the New York Stock Exchange. FTI is a global business advisory consulting company that provides corporate and financial restructuring advisory services and support, economic consulting, litigation support and business consulting. Bankers Commercial, a California
The Greenleaf Unit 1 Project is a natural gas-fired facility located in Yuba City, California. It consists of a generating unit with a capacity of approximately 49.2 (summer rating) MW. The Greenleaf Unit 1 Project interconnects with the California Independent System Operator transmission system.
Greenleaf Unit 1’s affiliate, Greenleaf Energy Unit 2 LLC, owns a nearby natural-gas fired facility. The Greenleaf Unit 2 Project is also interconnected with the CAISO transmission system. The net electric capacity of 49.5 MW of the Greenleaf Unit 2 Project is committed to PG&E through a long-term PPA. The Greenleaf Unit 2 Project has been found to be a “qualifying cogeneration facility” that may be eligible for exemption from regulation under Section 205 of the Federal Power Act, because all of its net electric output is sold pursuant to a contract that was entered into prior to March 17, 2006.
A company contact is: Glenn Tobias, Senior Managing Director, FTI Consulting Inc., 3 Times Square, 9th Floor, New York, NY 10036, Tel: 646-453-1217, Glenn.Tobias@fticonsulting.com.