New York-based Terra-Gen LLC subsidiary Oasis Wind Holdings LLC received approval from the Federal Energy Regulatory Commission Sept. 19 to acquire 100% of the class A and class B membership interests in the 60-MW Oasis Power Wind Project wind facility in Kern County, Calif.
Under the deal, Oasis Power Partners LLC, Eurus Sagebrush I LLC, EDF Renewables Inc., Strong Upwind Holdings LLC and Strong Upwind Holdings II LLC agreed to sell their membership interest in the wind power plant, an exempt wholesale generator that has been granted market-based rate authorization.
Located in the California ISO balancing authority area, the wind facility supplies its output to Sempra Energy subsidiary San Diego Gas & Electric Co. under a 15-year power purchase agreement.
Eurus Sagebrush and the EDF Group subsidiary each own 50% of the class B membership interests in Oasis Power Partners, while Strong Upwind and Strong Upwind II each own 50% of the class A membership interests.
Oasis Power Partners also has rights to a share of the 230-kV Sagebrush transmission line that extends from the Tehachapi region of California to Southern California Edison Co.'s Vincent substation, transmitting output of the Oasis facility to the transmission grid.
Terra-Gen indirectly owns a 74.52% stake in the Sagebrush line. Following the completion of the transaction, Terra-Gen will also acquire an additional 16.06% interest in the Sagebrush line. (FERC docket EC 19-94)
Eurus Sagebrush I is a subsidiary of Japan-based renewable developer Eurus Energy Holdings Corp., while Southern California Edison is a subsidiary of Edison International.
