The Federal Energy Regulatory Commission on Dec 30 approved a Nov. 4 application from Bethel Wind Farm LLC requesting authorization for the disposition of jurisdictional facilities resulting from Southern Renewable Partnerships LLC indirectly acquiring ownership interests in Bethel.
Bethel owns and operates a 276-MW wind project located in Castro County, Texas. The project is interconnected to the transmission system owned by Southwestern Public Service Co. and operated by the Southwest Power Pool. Bethel has entered into a long-term power agreement to selll 225 MW of the output from the project to an unaffiliated entity.
Bethel is an indirect, wholly owned subsidiary of Bethel Wind Farm Class B Holdings LLC (Class B Holdings). Class B Holdings is wholly owned by Invenergy Wind Global LLC, which is indirectly, partially owned by Invenergy Investment Co. LLC. Invenergy Investment also indirectly owns the controlling interests in other public utilities that own approximately 310 MW of generation capacity located in the SPP market, but none of those companies is involved in this transaction.
Southern Renewable is a holding company that is wholly owned by Southern Power, which is part of Southern Co. (NYSE: SO).
Pursuant to a Purchase and Sale Agreement, Invenergy Global will sell 100% of its ownership interests in Class B Holdings to Southern Renewable. As a result, Bethel will be an indirect, wholly-owned subsidiary of Southern Renewable.