The Federal Energy Regulatory Commission on Oct. 11 approved a Sept. 9 application from Antelope DSR 1 LLC for approval for JPM Capital Corp. to acquire an indirect interest in Antelope.
FERC wrote: “Antelope states that the Proposed Transaction may not require Commission approval under section 203(a)(1); however, out of an abundance of caution, it nevertheless asks the Commission to authorize the Proposed Transaction. This order authorizes the Proposed Transaction without making any determination of jurisdiction.”
Antelope is an exempt wholesale generator with market-based rate authority. It owns an approximately 50-MW photovoltaic project located in the City of Lancaster, Los Angeles County, California. The Antelope DSR 1 Project is situated within the California Independent System Operator (CAISO) market. Output from Antelope DSR 1 Project is committed under a long-term power purchase agreement to an unaffiliated entity.
Antelope is an indirect subsidiary of FTP Power LLC, which has the right to control it and the Antelope DSR 1 Project on a day-to-day basis.
JPM Capital is an indirect subsidiary of financial service company JPMorgan Chase & Co.
FERC on Aug. 31 had accepted a July 15 application from Antelope DSR 1 for market-based rate authority for this 50-MW (ac) solar project. The company said in the application that it expects the Antelope DSR 1 Project to begin generating test power in October 2016 and to reach commercial operation in November 2016. Antelope DSR 1 is committed to sell the entire output from the project under a 20-year power purchase agreement with the Southern California Public Power Authority. The Antelope DSR 1 Project will interconnect with the CAISO-controlled grid at the Antelope Substation.