The staff of the Public Utility Commission of Texas on Oct. 4 filed a final recommendation for approval of an Aug. 17 application from Monarch Wind LLC for permission to issue passive Class B interests to JPM Capital Corp. and EFS Renewables Holdings LLC.
Collectively, these investors and their respective affiliates own passive equity interest directly or indirectly in other generation facilities in the Electric Reliability Council of Texas (ERCOT) region totaling approximately 311.79 MW.
In addition, Monarch owns wind generation assets, including indirect ownership of Javelina Wind Energy II LLC, which is developing an approximately 200-MW wind project that will be interconnected to ERCOT. Monarch is indirectly owned by NextEra Energy Resources LLC (NER). NER also indirectly owns equity interests in other generation facilities located in ERCOT. NER’s indirect equity interests in generation capacity in ERCOT total approximately 280.98 MW.
Following this transaction, Monarch claims that the total combined installed generation capacity ownership of Monarch, its affiliates, Investors, and their affiliates will not exceed 20% of the installed capacity in ERCOT, which is an important legal threshold.
Based on the updated total installed capacity in ERCOT of 90,765 MW, Monarch’s combined share of capacity is 1.56% “Therefore, Staff concludes that the combined percentage share of installed generation capacity in ERCOT does not exceed the 20% threshold set out in PURA § 39.154,” said the Oct. 4 filing.
Monarch intends to issue passive Class B interests to each of the investors. The equity interests indirectly held by NER will be the Class A managing interests.
Notably, Javelina Wind Energy II LLC told the Public Utility Commission of Texas in a Sept. 20 registration as a renewable energy credit producer that its 200-MW wind project is due for commercial operation on Nov. 11 of this year. The brief filing lists all one hundred General Electric 2-MW wind turbines that make up this project, with each shown as due to go commercial on Nov. 11.
A listed project contact is: Ingrid Chapman, Senior Business Manager, 700 Universe Blvd, FEB/JB Juno Beach, FL 33408, phone 561-694-3513. That is contact information for NextEra Energy (NYSE: NEE).