On June 27, the Iowa Utilities Board approved a June 2015 application from Cedar Falls Municipal Electric Utility for certification of a solar energy conversion facility as an eligible facility pursuant to Iowa Code.
In the application, Cedar Falls stated the sole owner of the solar energy conversion facility will be Cedar Falls Solar Farm LLC. Cedar Falls indicated that Cedar Falls Solar Farm LLC is fully owned by General Energy Solutions USA Inc. General Energy Solutions USA is fully owned by General Energy Solutions UK Ltd., which is fully owned by General Energy Solutions Inc. General Energy Solutions is 75.89% owned by Neo Solar Power Corp. General Energy Solutions has no other shareholders with a significant ownership interest.
Cedar Falls is a municipally-owned utility and will purchase all of the renewable energy produced by the facility. Cedar Falls has provided a copy of the power purchase agreement and a signed statement from Cedar Falls Solar Farm LLC that it will sell all of the renewable energy produced to Cedar Falls. Cedar Falls requests eligibility for this 1.476-MW facility, which will be located in the City of Cedar Falls. Cedar Falls states that it intends to use the renewable energy produced by the facility as a portion of the total power delivered into its distribution system and sold to end users. The facility will be placed into service by Dec. 31, 2016.
The Cedar Falls facility comes within the 10 MW solar reserve established in a section of Iowa Code and will be eligible for tax credits under that statute. The nameplate generating capacity of the facility is 1.476 MW. Cedar Falls will purchase the renewable energy produced by the facility and deliver it into the Cedar Falls electric distribution system for sale to end users.