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JPM Capital to purchase passive interest in Calif. solar plant

JPM CapitalCorp. plans to acquire passive class A interest in the 5-MW AC Antelope DSR 2 solar facility in Los Angeles County,Calif., and is seeking FERC approval by Aug. 17 in order to do so.

Located withinthe California ISO area,the project is expected to reach commercial operation in October, according to anapplication dated July 20. Power from the facility is contracted to under a 20-year agreement.

SPower, which is legally known as ,will manage day-to-day operations of the project via a subsidiary.

JPM Capital is owned by JPMorgan Chase & Co. (EC16-153)