The Public Utility Commission of Texas will at its Oct. 7 meeting consider a proposed order, dated Sept. 9, that approves a change in ownership related to a 120-MW wind project.
Invenergy Gunsight Mountain Holdings LLC (IGMH) on July 1 asked for approval of the issuance of Class B equity interests in IGMH to HA INV Gunsight LLC (Hannon). The commission staff has recommended approval of the application.
Invenergy Wind Global LLC (Invenergy) is the owner of 100% of the equity interests in IGMH and indirectly owns 100% of Gunsight Mountain Wind Energy LLC (the project company). The project company is developing a 120-MW wind project located in Howard County. The project will be interconnected to the Electric Reliability Council of Texas (ERCOT) grid through facilities that will be operated by Oncor Electric Delivery Co. LLC.
The commission approved the issuance of a Class A passive equity interest in IGMH to EFS Renewable Holdings LLC (EFS) (Class A transaction) on June 13, 2016. Following the closing of the Class A transaction, EFS will own 100% of the Class A passive equity interest in IGMH. Invenergy is now proposing to convey 46% of the Class B equity ownership in IGMH to Hannon.
The July 1 application said this project was due for commercial operation in July 2016. The application said the parties hope to close this equity investment deal by Oct. 31. Jeffrey Eckel out of Annapolis, Maryland, is shown as the president of HA INV Gunsight.