South Plains Wind Energy II LLC applied Feb. 17 with the Public Utility Commission of Texas under the Public Utility Regulatory Act for approval to issue passive equity interests in South Plains II to two entities, MidAmerican Wind Tax Equity Holdings LLC and Citicorp North America Inc.
Applicant and these investors intend to close funding for the issuance of thise passive equity interests by the commercial operation date for a wind project. South Plains II is developing and constructing a 300-MW wind project located in Floyd County, Texas. The project will be interconnected to the Electric Reliability Council of Texas (ERCOT) grid through facilities that will be owned and operated by Sharyland Utilities LP. The project is currently expected to enter into commercial operation on or about June 30, 2016.
South Plains II is a wholly owned subsidiary of Terra Nova Renewable Partners LLC. Terra Nova is owned by SunE Utility Partner 1 LLC (1%) and Novatus Energy LLC (99%). SunE Utility Partner 1 is an indirect, wholly owned subsidiary of SunEdison Inc. Novatus Energy is an indirect, wholly-owned subsidiary of IIF US Holding 2 LP, an infrastructure investment fund.