Vantage Wind Energy LLC applied Oct. 20 at the Federal Energy Regulatory Commission for approval of a change in its upstream ownership whereby Vantage Class B Holdings LLC (VCB Holdings) will acquire from Macquarie Washington Wind LLC (called the “Class A Investor”) all the Class A passive membership interests it holds in Vantage Wind Holdings LLC.
This will result in the Class A Investor no longer owning any indirect ownership interests in the applicant. Vantage Wind Energy is a direct, wholly-owned subsidiary of Vantage Holdings. Currently, VCB Holdings directly owns the controlling interests in Vantage Holdings as the owner of all of the Class B membership interest in, and managing member of, Vantage Holdings and the Class A Investor owns all of the Class A passive, non-controlling ownership interests in Vantage Holdings. Consummation of the proposed transaction will result in the Class A Investor no longer owning any interests in Vantage Holdings (or indirectly in the applicant) and VCB Holdings owning all of the membership interests in Vantage Holdings and continuing to indirectly own the controlling interests in the applicant.
The company asked FERC for a notice period of no longer than 21 days, expedited treatment of this application, and that the commission issue an order granting this application by Nov. 21 to accommodate closing of the transaction as soon as possible thereafter.
Vantage Wind Energy owns and operates a 90-MW (nameplate) wind project located in Kittitas County, Washington, together with limited interconnection facilities necessary to connect it to the transmission system owned by Puget Sound Energy. The commission has granted Vantage market-based rate authority. Vantage sells electric energy, capacity and/or ancillary services at wholesale pursuant to its market-based rate tariff. Vantage has entered into a long term power sale agreement pursuant to which it sells all of the power produced by the Vantage Project to Pacific Gas & Electric. Vantage is an EWG.
VCB Holdings is an indirect, wholly-owned subsidiary of Invenergy Wind LLC, which is an indirect, partially-owned subsidiary of Invenergy Investment Co. LLC.
The Class A Investor is indirectly owned by Maquarie Group Ltd.