FERC okays sale of passive interests in two newly-operational solar projects in Georgia

The Federal Energy Regulatory Commission on June 22 approved an April 13 application from White Pine Solar LLC and White Oak Solar LLC for authorization for the disposition of jurisdictional facilities resulting from the transfer of 100% of the passive, non-managing Class B Membership Interests in Georgia Longleaf Solar 1 LLC, the owner of the applicants, to JPM Capital Corp. or an affiliate.

The applicants stated that this transaction may not require commission approval under Federal Power Act section 203 (a)(1), but they nevertheless asked the commission to okay it. “This order authorizes the Proposed Transaction without making any determination of jurisdiction,” said FERC.

  • White Pine Solar will own and operate a 101.3-MW photovoltaic facility in Taylor County, Georgia, within the Southern Company Services Inc. (SOCO) balancing authority area (BAA). The applicants said the White Pine Facility could start producing test energy as early as May 24 of this year. The White Pine Facility will interconnect with Georgia Power‘s transmission system. White Pine has entered into a long-term power purchase agreement (PPA) with Georgia Power for all of the output from the White Pine Facility, as of Jan. 1, 2017.  Georgia Power will also purchase all the test energy from the White Pine Facility. Applicants noted that White Pine and Georgia Power are finalizing a separate power sales agreement under which Georgia Power will purchase all the energy from the White Pine Facility once the test energy phase is completed in 2016 and until regular sales under the PPA commence on Jan. 1, 2017.
  • White Oak Solar will own and operate a 76.5-MW photovoltaic facility located in Burke County, Georgia, within the SOCO BAA. The applicants said the White Oak Facility could start producing test energy as early as May 29, 2016. The White Oak Facility will interconnect with Georgia Power’s transmission system. White Oak has entered into a long-term PPA with Georgia Power for all of the output produced from the White Oak Facility, as of Jan. 1, 2017. Georgia Power will also purchase all the test energy. White Oak and Georgia Power are finalizing a separate power sales agreement under which Georgia Power will purchase all the energy from the White Oak Facility once the test energy phase is completed in 2016 and until regular sales under the PPA commence on Jan. 1, 2017. 

Georgia Longleaf is a wholly owned direct subsidiary of ESI Energy LLC. ESI Energy is a wholly owned, direct subsidiary of NextEra Energy Resources LLC, which is part of NextEra Energy (NYSE: NEE).

JPM Capital is an indirect, wholly owned subsidiary of JPMorgan Chase & Co., an international financial services company.

Georgia Longleaf will first convey all of its ownership interests in White Oak and White Pine to its affiliate, Longleaf Solar LLC, which will be a wholly owned subsidiary of Longleaf Solar Holdings LLC, a wholly owned subsidiary of ESI Energy. Longleaf Solar Holdings LLC’s ownership interest in Longleaf Solar LLC will then be converted to 100% of the Class A membership interests in that entity. JPM Capital will pay cash consideration for its acquisition of 100% of the Class B membership interests in Longleaf Solar LLC. Longleaf Solar Holdings LLC, as the Class A member, will be the managing member of Longleaf Solar LLC, which will own and control each of the applicants.

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.