Edison Mission seeks FERC approval to sell 240-MW Ill. wind facility


19Feb2014

Edison Mission Energy and other parties have recently applied with FERC for approval of a two-part transaction relating to the sale of the 240-MW Big Sky wind power plant in Bureau and Lee counties, Ill.

By Waqas Azeem

Edison Mission Energy and other parties have recently applied with FERC for approval of a two-part transaction relating to the sale of the 240-MW Big Sky wind power plant in Bureau and Lee counties, Ill.

In the first part, Suzlon Wind Energy Corp. will acquire the wind facility from EME subsidiary, Edison Mission Midwest II, as well as the related interconnection facilities, contracts, books and records associated with the plant, according to the filing.

The transaction is scheduled to close on or about March 5. Financial terms of the deal were not disclosed.

Under the second part of the transaction, Suzlon will sell the wind facility to Trireme Energy Investments Inc. subsidiary EverPower Wind Holdings Inc. The sale will include the related interconnection facilities, contracts, books and records associated with the wind facility.

EverPower will assume ownership as soon as practicable but not more than 120 days after ownership transfers to Suzlon, according to the filing. The applicants requested expedited action on the application and that the commission issue an order approving the transaction on or before March 5.

In the application, the Edison International subsidiary said the transaction is consistent with its proposed plan of reorganization and the asset purchase agreement with NRG Energy Inc. subsidiary NRG Energy Holdings Inc. The agreement allows EME to sell substantially all of its assets to NRG Energy.

The agreement also allows EME to sell certain of its noncore assets, including the Big Sky wind facility, prior to closing of the transactions associated with the agreement. (EC14-000)