Noble Environmental seeks FERC approval related to bankruptcy reorganization

Seven project affiliates of Noble Environmental Power LLC on Sept. 16 applied at the Federal Energy Regulatory Commission for approval of a change in control related to the Sept. 15 Chapter 11 bankruptcy filing of Noble Environmental Power.

Noble Altona Windpark LLC, Noble Bliss Windpark LLC, Noble Clinton Windpark I LLC, Noble Ellenburg Windpark LLC, Noble Chateaugay Windpark LLC, Noble Great Plains Windpark LLC and Noble Wethersfield Windpark LLC requested authorization for a transaction involving the restructuring of certain membership interests in their upstream owner, Noble Environmental Power (NEP). NEP will undergo a reorganization including a pre-arranged Chapter 11 bankruptcy proceeding.

Under the reorganization, the existing ownership interests in NEP will be cancelled and 100% of the new ownership interests will be issued to NEP’s current secured lender, Paragon Noble LLC. Since Paragon Noble is the current majority (54%) owner of NEP, the reorganization will not represent a change in control of NEP, but simply will result in an increase in Paragon Noble’s ownership interest in NEP from 54% to 100%, upon approval by the bankruptcy court.

Following the completion of the transaction, other owners of NEP will no longer have an ownership interest in NEP or in the applicant Noble companies.

The applicants requested that the commission establish a 21-day comment period for this application and issue an order granting the requested authorizations by no later than Oct. 31, to allow for a closing of the transaction as soon as possible thereafter.

The wind farms involved are:

  • Noble Altona Windpark LLC owns and operates an approximately 97.5 MW (summer rating) wind facility located in Altona, New York. The Altona Project is interconnected with transmission facilities that are owned by the New York Power Authority (NYPA) and are under the operational control of the New York ISO. The output of the Altona Project may be sold to one or more parties under the bilateral power purchase agreements or into the NYISO markets. Noble Altona is an exempt wholesale generator (EWG) with market-based rate authorization.
  • Noble Bliss Windpark LLC owns and operates an approximately 100.5 MW (summer rating) wind facility located in Wyoming County, New York. The Bliss Project is interconnected with transmission facilities that are owned by the Village of Arcade, New York. The output of the Bliss Project may be sold to one or more parties under bilateral power purchase agreements or into the NYISO markets. Noble Bliss is an EWG with market-based rate authorization.
  • Noble Clinton Windpark I LLC owns and operates an approximately 100.5 MW (summer rating) wind facility located in the Town of Clinton, New York. The Clinton Project is interconnected with transmission facilities that are owned by NYPA and are under the operational control of the NYISO. The output of the Clinton Project may be sold to one or more parties under bilateral power purchase agreements or into the NYISO markets. Noble Clinton is an EWG with market-based rate authorization.
  • Noble Ellenburg Windpark LLC owns and operates an approximately 81 MW (summer rating) wind facility located in the Town of Ellenburg, New York. The Ellenburg Project is interconnected with transmission facilities that are owned by NYPA and are under the operational control of the NYISO. The output of the Ellenburg Project may be sold to one or more parties under bilateral power purchase agreements or into the NYISO markets. Noble Ellenburg is an EWG with market-based rate authorization.
  • Noble Chateaugay Windpark LLC owns and operates an approximately 106.5 MW (summer rating) wind facility located near the Town of Chateaugay, New York. The Chateaugay Project interconnects with transmission facilities that are owned by NYPA and are under the operational control of the NYISO. The output of the Chateaugay Project is sold to one or more parties under bilateral power purchase agreements or into the NYISO markets. Noble Chateaugay is an EWG with market-based rate authorization.
  • Noble Great Plains Windpark LLC owns and operates the Great Plains Project, an approximately 114 MW (summer rating) wind facility located in Hansford County, Texas. The Great Plains Project is interconnected with the transmission facilities owned by Xcel Energy and operated by the Southwest Power Pool (SPP) within the SPP BAA. Noble Great Plains is an EWG with market-based rate authorization.
  • Noble Wethersfield Windpark LLC owns and operates an approximately 126 MW (summer rating) wind facility located near the Town of Wethersfield, New York. The Wethersfield Project is interconnected with transmission facilities that are owned by New York State Electric and Gas, also under the operational control of the NYISO. The output of the Wethersfield Project may be sold to one or more parties under bilateral power purchase agreements or into the NYISO markets. Noble Wethersfield is an EWG with market-based rate authorization. 

The Noble wind companies located in New York on Sept. 16 filed a similar application with the New York State Public Service Commission for approval of this deal as it relates to the New York wind farms.

A company contact is: C. Kay McCall, President and CEO, Noble Environmental Power LLC, 6 Main Street, Centerbrook, CT 06409, Tel: 860 581 5034, Cell: 860 853 8774, mccallk@noblepower.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.