Three companies with U.S. power plants notified the Federal Energy Regulatory on May 6 in separate filings that they are just about to be sold by GDF SUEZ Energy North America.
Calumet Energy Team LLC made an informational filing regarding the planned indirect transfer of control of Calumet’s approximate (nominal) 300 MW natural gas-fired facility located near Chicago, Illinois. Atlas Power Finance LLC will acquire 100% of the interests of GDF SUEZ Energy North America (GSENA), which indirectly owns 100% of the membership interests in Calumet.
Calumet is an exempt wholesale generator and owns and operates the facility within the PJM Interconnection market. Calumet is authorized to sell electric energy, capacity, and certain ancillary services at market-based rates.
Calumet is an indirect wholly-owned subsidiary of GSENA. GSENA is currently wholly-owned by International Power, S.A., which in turn is an indirect wholly-owned subsidiary of ENGIE S.A. (f/k/a GDF SUEZ S.A.), a French société anonyme listed on the Brussels and Paris stock exchanges. On Feb. 24, 2016, Atlas Power Finance entered into an agreement with International Power to purchase all of the issued and outstanding stock of GSENA.
The other GDF SUEZ companies filing basically identical May 6 notices were:
- Pleasants Energy LLC, which has an approximate 354 MW natural gas-fired facility located in St. Marys, West Virginia.
- Troy Energy LLC, which controls an approximate 936 MW natural gas-fired facility located in Wood County, Ohio.
Atlas Power Finance LLC, Dynegy Inc., GDF SUEZ Energy North America and Energy Capital Partners III LLC (ECP III), on March 25 asked FERC to approve a transaction by which Atlas Power Finance, a wholly-owned subsidiary of Atlas Power LLC, a newly-formed joint venture between Dynegy and ECP III, will purchase GSENA.
Dynegy and ECP III also submitted an application for the approval of a purchase by a subsidiary of ECP III of an approximately 10% interest in Dynegy’s common voting shares of stock in order to help fund Dynegy’s obligations under the GSENA Acquisition.