Noble Environmental Power LLC and Bankers Commercial Corp. are planning to sell their membership interests in Noble Great Plains Windpark LLC the owner and operator of the 114-MW Great Plains I wind facility in Hansford County, Texas.
All of the class B, voting securities in Noble Great Plains are owned by Noble Environmental Power while all of the class A, passive tax-equity interests in Great Plains are owned by Bankers Commercial Corp.
The buyer is Great Plains Wind Park Member LLC which is a subsidiary of Geronimo Renewable Infrastructure Partners LP. Geronimo Renewable Infrastructure Partners GP LLC has a 1% controlling general partnership interest while the remaining 99% of Geronimo Renewable Infrastructure is indirectly held by passive limited partners.
The parties are requesting the Federal Energy Regulatory Commission approve the transaction by Aug. 30. (FERC docket EC18-129)
The Great Plains project is interconnected with the transmission system owned by Xcel Energy Inc. and operated by the Southwest Power Pool.
In December 2016, Noble Environmental Power underwent a restructuring including a pre-arranged Chapter 11 bankruptcy proceeding, which resulted in the company being solely owned by Paragon Noble LLC. Paragon Noble is a special purposes vehicle with one or more funds controlled by investment firm MSD Capital LP.