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)
