FERC okays sale of 40-MW wind project in Maine to Southern Power unit

On April 20, the Federal Energy Regulatory Commission approved a March 11 application from Passadumkeag Windpark LLC for authorization for the transfer and sale of its membership interests held by Quantum Wind Acquisition I LLC (Quantum Wind) to Southern Renewable Energy Inc.

Passadumkeag Windpark is an exempt wholesale generator with market-based rate authority whose sole member is Quantum Wind. It has constructed a 40-MW wind facility located near Bangor, Maine, within the ISO New England (ISO-NE) market. The facility is expected to commence operations in April 2016.

The company will sell approximately 38.46 MW from the facility to Western Massachusetts Electric Co. (WMECO) under a long-term power purchase agreement.

Quantum Wind’s sole and managing member is Quantum Funding LLC (Quantum Funding), and more than 95% of Quantum Funding is owned by Quantum Power Investment Partners, which is majority owned by Quantum Energy Partners V LP.

Southern Renewable Energy is a wholly owned subsidiary of Southern Power, which is a wholly owned subsidiary of Southern Co. (NYSE: SO).

Under the now-approved transaction, Southern Renewable Energy will acquire 100% of the membership interests in Passadumkeag presently held by Quantum Wind. As a result, Passadumkeag will become a wholly-owned subsidiary of Southern Renewable Energy. Quantum Wind will not hold any ownership interest in Passadumkeag following consummation of this deal.

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.