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D.E. Shaw Renewable wraps sale of interest in Imperial Valley Solar

D. E. Shaw Renewable Investments LLC has completed the transfer of its membership interests in Imperial Valley Solar LLC to New Energy Solar Ltd.

Imperial Valley Solar is party to two co-tenancy agreements involving FERC-jurisdictional facilities, which is why the transaction needed the Federal Energy Regulatory Commission approval.

In a deal that closed Aug. 31, Imperial Valley Solar's interests in the co-tenancy agreements were transferred to a New Energy Solar entity called NES IVS Holdings LLC.

One is the CSolar IV South LLC co-tenancy agreement, which allows parties to share certain facilities such as easements and maintenance of a 230-kV generator tie-line interconnection facility. The co-tenants under the agreement are CSOLAR IV South LLC, Imperial Valley Solar 1 LLC, Imperial Valley Solar 2 LLC, Imperial Valley Solar 3 LLC, CED Wistaria Solar LLC and Imperial Valley Solar.

Second, Imperial Valley Solar is also a party to and manager under the Large Generator Interconnection Agreement co-tenancy agreement among Imperial Valley Solar 1, Imperial Valley Solar 2, Imperial Valley Solar 3 and Imperial Valley Solar 4 LLC as co-tenants.

New Energy Solar is an investment fund headquartered in Australia. It owns the planned 153-MW Imperial Valley Solar Project 2 solar project in Imperial County, Calif., which is expected to be in operation later this year.(FERC docket EC19-65)