The Federal Energy Regulatory Commission on March 29 approved a Feb. 17 application from Black Hills Colorado IPP LLC requesting commission authorization for the sale by Black Hills Electric Generation LLC of 49.9% of its membership interest in Black Hills Colorado IPP to AIA Colchis LLC.
Black Hills Colorado IPP is a wholly owned indirect subsidiary of Black Hills Corp. and was created to develop, own and operate two combined cycle gas-fired generating units and associated interconnection facilities. This is a 200-MW plant located in Pueblo, Colorado. Applicant states that it sells all of the capacity and energy from the facility pursuant to a long-term power purchase agreement with its regulated transmission and distribution utility affiliate Black Hills/Colorado Electric Utility Co. LP. Other than this facility, applicant does not own or control any generation facilities and has no energy subsidiaries.
One hundred percent of its membership interests are currently held by Black Hills Generation, a wholly owned subsidiary of Black Hills Non-Regulated Holdings LLC.
AIA Colchis is a special purpose entity formed for the purpose of investing in energy infrastructure projects. The interests in AIA Colchis are held 0.3904% by arGo Energy North America MM LLC (arGo Energy MM), 48.8048% by California State Teachers Retirement System (CalSTRS), 48.8048% by Sogra Investments Holdings B.V., and a 2% passive interest is held by a U.S. private equity fund that is not affiliated with any of these other investors.
arGo Energy MM is the managing member of AIA Colchis and controls all of its day to day management and operations.