40-MW Elevation Solar C project in California due for commercial ops in October

Elevation Solar C LLC on July 6 sought approval from the Federal Energy Regulatory Commission for the acquisition by SPW Solar Holdings 3 LLC of 100% of the membership interests in Elevation Solar C, which has a nearly-operational solar project in California.

More specifically, the company seeks commission authorization for the disposition to JPM Capital Corp., a passive investor in SPW3, of an indirect interest in Elevation Solar C. JPM Capital is an indirect, wholly-owned subsidiary of JPMorgan Chase & Co., an international financial services company.

Elevation Solar C owns a solar photovoltaic power project with a nameplate capacity rating of approximately 40 MW (ac) located in the City of Lancaster, Los Angeles County, California. The Elevation Solar C Project is located within the California Independent System Operator balancing authority area in the Southwest region. The company expects to begin generating test power from the Elevation Solar C Project in September 2016 and to achieve commercial operation in October 2016.

Elevation Solar C is committed to sell the entire output from the Elevation Solar C Project under a 25-year power purchase agreement with the City of Palo Alto.

Elevation Solar C is currently a wholly-owned subsidiary of sPower FinCo 4 LLC, which is a wholly-owned subsidiary of sPower Solar Holdings 4 LLC, which in turn is a wholly-owned subsidiary of Sustainable Power Group LLC (sPower). sPower is a wholly-owned subsidiary of FTP Power LLC. After the closing of the proposed transaction, FTP will continue to have control over Elevation Solar C. 

A company contact is: Sean McBride, General Counsel, FTP Power LLC, 2180 South 1300 East, Suite 600, Salt Lake City, UT 84106, Telephone: (801) 679-3500, smcbride@spower.com.

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.