FERC okays sale by SunEdison of interests in Utah solar projects

The Federal Energy Regulatory Commission on March 30 approved a Feb. 25 application from several project companies with in-construction solar facilities for a change in ownership.

The applicants were Enterprise Solar LLC, Escalante Solar I LLC, Escalante Solar II LLC, Escalante Solar III LLC, Granite Mountain Solar East LLC, Granite Mountain Solar West LLC and Iron Springs Solar LLC.

This is a transaction whereby SunE Wind Holdings Inc., an indirect, wholly owned subsidiary of SunEdison Inc., will sell all of SunEdison’s indirect voting securities in the applicants to DESRI Four Brothers Acquisition Holdings LLC, DESRI Iron Springs Acquisition Holdings LLC and DESRI Granite Mountain Acquisition Holdings LLC.

  • Enterprise Solar is constructing and will own and operate an 80-MW solar facility to be located in the Town of Newcastle, Utah. The Enterprise Facility will connect to transmission facilities owned by PacifiCorp. The entire output of the Enterprise Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Enterprise Facility’s commercial operations date.
  • Escalante Solar I is constructing and will own and operate an 80-MW solar generation facility to be located in the Town of Milford, Utah. The Escalante I Facility will connect to transmission facilities owned by PacifiCorp, including a shared 34.5/345 kilovolt (kV) transformer, 345 kV circuit breaker, and a 345 kV generation tie‐line less than 500 feet in length. The shared 345 kV generation tie‐line, transformer, and circuit breaker are shared with Escalante Solar II and Escalante Solar III. The entire output of the Escalante I Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Escalante I Facility’s commercial operations date.
  • Escalante Solar II is constructing and will own and operate an 80-MW solar facility to be located in the Town of Milford, Utah. The Escalante II Facility will connect to transmission facilities owned by PacifiCorp and the Shared Facilities. The entire output of the Escalante II Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Escalante II Facility’s commercial operations date.
  • Escalante Solar III is constructing and will own and operate an 80-MW solar facility to be located in the Town of Milford, Utah. The Escalante III Facility will connect to transmission facilities owned by PacifiCorp and the Shared Facilities. The entire output of the Escalante III Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Escalante III Facility’s commercial operations date.
  • Granite Mountain Solar East is constructing and will own and operate an approximately 80-MW solar facility to be located in the Town of Cedar City, Utah. The Granite Mountain East Facility will connect to transmission facilities owned by PacifiCorp. The entire output of the Granite Mountain East Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Granite Mountain East Facility’s commercial operations date.
  • Granite Mountain Solar West is constructing and will own and operate an approximately 50-MW solar farm located in the Town of Cedar City, Utah. The Granite Mountain West Facility will connect to transmission facilities owned by PacifiCorp. The entire output of the Granite Mountain West Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Granite Mountain West Facility’s commercial operations date.
  • Iron Springs Solar is constructing and will own and operate an approximately 80-MW solar facility located in the Town of Cedar City, Utah. The Iron Springs Facility will connect to transmission facilities owned by PacifiCorp. The entire output of the Iron Springs Facility will be sold to PacifiCorp under a long‐term contract expiring on the twentieth anniversary of the Iron Springs Facility’s commercial operations date.

Each of the buyers is a direct, wholly owned subsidiary of DESRI Utah Solar Acquisition Holdings LLC, which, at or near the time of closing, will be a direct, wholly owned subsidiary of DESRI Financing 3 LLC. These parties are controlled by D. E. Shaw Renewable Investments LLC, which is a direct, wholly owned subsidiary of D. E. Shaw & Co. LP.

The applicants stated that the buyers’ affiliates own, operate, or control only 45 MW of generation capacity in the PacifiCorp‐East balancing authority area (PACE), the relevant geographic market for the transaction.

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.