BlackRock Inc. has asked the Federal Energy Regulatory Commission to authorize the purchase of a power marketing business and a portfolio of wind farms owned by Terra Firma Capital Partners Ltd.
According to a Dec. 6 FERC filing, Rock Investco LLC, an affiliate of BlackRock, will purchase all the voting interests in EverPower Commercial Services LLC, a power marketer with corporate offices in Pittsburgh.
The BlackRock affiliate will also purchase all the voting interests in the following wind assets: Big Savage LLC, which operates the 139.4-MW Twin Ridges Wind Farm in Somerset County, Pa., and Allegany County, Md.; the 240-MW Big Sky wind farm, in Bureau and Lee counties, Ill.; the 75-MW Highland North wind project in Cambria County, Pa.; the 55.4-MW Howard wind project, located in Steuben County, N.Y.; the 150-MW Mustang Hills project in Kern County, Calif.; Krayn Wind LLC, which according to the filing owns the 62.5-MW Highland Wind Project and the 30-MW Patton wind farm, both in Cambria County, Pa.
EverPower Wind Holdings Inc. is the indirect parent of the entities that own the wind assets and the EverPower Commercial Services business. EverPower Wind Holdings is held by Terra Firma.
Under the proposed transaction, a BlackRock subsidiary will merge into one of the entities through which Terra Firma holds EverPower Wind Holdings, making that entity a BlackRock subsidiary.
Financial terms of the deal were not disclosed in the application.
The commission has been asked to approve the transaction within 21 days. BlackRock plans to complete the purchase within 15 days of approval. (FERC docket EC18-29)
