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JPM Capital to acquire passive stake in Calif. solar project

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JPM Capital to acquire passive stake in Calif. solar project

JPM Capital Corp. is seeking FERC approval to acquire non-controlling,passive interest in the 20-MW AC Antelope Big Sky Ranch solar facility in Los AngelesCounty, Calif., according to an application filed May 5.

The facility is expected to achieve commercial operation in Augustand will sell its output to SouthernCalifornia Public Power Authority under a 25-year contract.

SPower, which is legally known as Sustainable Power Group LLC, will maintain controlling interestin the project. Parties involved are seeking FERC approval by June 9.

JPM Capital is a subsidiary of JPMorgan Chase & Co. (EC16-115)