The Federal Energy Regulatory Commission on April 21 approved a March 1 application from Comanche Solar PV LLC for authorization for the disposition of jurisdictional facilities resulting from one of three alternative transaction structures.
Those structures, all three of which were approved by FERC, are:
- TF Comanche Holdings LLC (TF Comanche) will purchase indirect, upstream membership interests in Comanche Solar. TF Comanche is a wholly owned subsidiary of: TerraForm Comanche Managing Member LLC (a wholly owned subsidiary of TerraForm Power Inc.), as Class B member; and Wells Fargo Wind Holdings LLC (Wells Fargo Wind), as the Class A member; or
- TF Comanche or a newly-formed entity (NewCo) will purchase indirect, upstream membership interests in Comanche Solar. The purchaser will be a wholly owned subsidiary of: Terra Nova Renewable Partners LLC (Renewable Partners) as Class B member (which is an indirect subsidiary of IIF US Holding 2 LP (IIF 2 LP) (99%) and SunEdison (1%)); and Wells Fargo Wind as Class A member; or
- TF Comanche or NewCo will buy indirect ownership interests in Comanche Solar. The purchaser will be a subsidiary of: a wholly owned subsidiary of IIF 2 LP, as Class B member; and Wells Fargo Wind as Class A member.
Comanche Solar is constructing and will own and operate a 120-MW solar facility to be located in Pueblo, Colorado, which will be connected to transmission facilities owned by Public Service Co. of Colorado (PS Colorado). PS Colorado will purchase the entire output of the facility under a 25-year contract.
Comanche Solar Holdings, an affiliate of SunEdison, directly and wholly owns the applicant.