FERC okays sale of stakes in nearly-commercial Jericho Rise Wind project in N.Y.

The Federal Energy Regulatory Commission on Oct. 14 approved a Sept. 13 application from Jericho Rise Wind Farm LLC for authorization for the disposition of jurisdictional facilities from a tax equity transaction that involves the sale of certain indirect non-managing membership interests in the company to BAL Investment & Advisory Inc. or an affiliate thereof, The Bank of New York Mellon or an affiliate thereof, and potentially one or more unidentified investors.

Jericho Wind is constructing and will own and operate an approximately 77.7-MW wind facility located in Franklin County, New York. The facility is expected to achieve commercial operation in November 2016. It will be interconnected to the transmission system owned by the New York Power Authority and operated by the New York Independent System Operator.

Jericho Wind is an exempt wholesale generator under the Public Utility Holding Company Act of 2005 to which the commission has granted market-based rate authority. 

Applicant currently is a wholly-owned, direct subsidiary of EDP Renewables North America LLC. EDP Renewables is a wholly owned, direct subsidiary of EDP Renováveis S.A.

BAL Advisory is an indirect, wholly owned subsidiary of Bank of America Corp. BNY Mellon is a bank, chartered in the state of New York. 

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.