NextEra seeks okay for sale of interests in 250-MW Rush Springs Wind project

Rush Springs Wind Energy LLC on Oct. 7 applied with the Federal Energy Regulatory Commission for approval of the sale of certain indirect, non-managing interests in the wind project developer to JPM Capital Corp. (JPMCC) or an affiliate, and EFS Renewables Holdings LLC (GE EFS).

These two investors will acquire 100% of the Class B Membership Interests in Monarch Wind LLC, which will own 100% of the membership interests in Rush Springs. The Class B Membership Interests to be acquired are passive tax equity interests, and will not give the Investors a voice in the day-to-day public utility activities of the applicant except for those veto and consent rights necessary to allow Investors to protect their investment in the applicant.

Rush Springs Wind requested that the commission provide for a 21-day comment period and issue an order approving the transaction no later than Nov. 28.

Rush Springs will own and operate a wind farm with a nameplate capacity of approximately 249.9 MW located in Grady and Stephens counties, Oklahoma, within the Southwest Power Pool (SPP) balancing authority area (BAA). Rush Springs is party to a generator interconnection agreement (GIA) with SPP and AEP Oklahoma Transmission, and may start producing test energy later in October 2016.

The facility’s power will be sold into the SPP market, with separate contracts-for-differences with Owens Corning and Equinix for 100% of the output of the facility. Rush Springs is an exempt wholesale generator (EWG) and is authorized by the commission to sell power at market-based rates.

This project company is a wholly-owned indirect subsidiary of ESI Energy LLC, which is a wholly-owned direct subsidiary of NextEra Energy Resources LLC, which is part of NextEra Energy (NYSE: NEE).Through subsidiaries and affiliates, NextEra Resources currently owns or controls generating facilities in 25 states and Canada with a combined net generating capacity of over 20,000 MW.

JPMCC is an indirect, wholly-owned subsidiary of JPMorgan Chase & Co., an international financial services company.

GE EFS is a wholly-owned subsidiary of Aircraft Services Corp., which is part of General Electric (NYSE: GE).

Other applicant affiliates in the SPP market with projects in development are:

  • Brady Wind LLC will own and operate a 149.7 MW wind facility located in Stark County, North Dakota. Brady Wind is authorized by the Commission to sell power at market-based rates. All of Brady Wind’s capacity is fully committed pursuant to a PPA with a non-affiliate.
  • Brady Wind II LLC will own and operate a 149 MW wind facility located in Hettinger and Stark counties, North Dakota. Brady Wind II is authorized by the commission to sell power at market-based rates. All of Brady Wind II’s capacity is fully committed pursuant to a PPA with a non-affiliate.
  • Kingman Wind Energy I LLC will own and operate a 103.3 MW wind facility located in Kingman County, Kansas. Kingman I is authorized by the commission to sell power at market-based rates. All of Kingman I’s capacity is fully committed pursuant to a PPA with a non-affiliate.
  • Kingman Wind Energy II LLC will own and operate a 103.3 MW wind facility located in Kingman County, Kansas. Kingman II is authorized by the commission to sell power at market-based rates. All of Kingman II’s capacity is fully committed pursuant to a PPA with a non-affiliate.
  • Ninnescah Wind Energy LLC will own and operate a 208.3 MW wind facility located in Pratt, Kingman, and Sedgwick counties, Kansas. Ninnescah Wind is authorized by the commission to sell power at market- based rates. All of Ninnescah Wind’s capacity is fully committed pursuant to a PPA with a non-affiliate.
  • Osborn Wind Energy LLC will own and operate a 200.9 MW wind facility located in DeKalb County, Missouri. Osborn Wind is authorized by the commission to sell power at market-based rates. Osborn Wind’s capacity is fully committed pursuant to a PPA with a non-affiliate.
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.