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NM wind project developers seek approval of passive interest sale

Two project entities that are ultimately owned by Pattern Energy Group Inc. asked FERC to approve the sale of passive Class A membership interests to investors.

Broadview Energy JN and Broadview Energy KW are indirect subsidiaries of Broadview Energy Holdings LLC, which is wholly owned by Pattern Energy unit Pattern Renewables LP. The two Broadview Energy entities are developing wind energy facilities in Curry County, N.M., that, once operational, will sell power to Edison International subsidiary Southern California Edison Co.

On Jan. 27, the Broadview entities applied to FERC to sell passive Class A membership interests to four parties. JPM Capital Corp., an indirect subsidiary of JPMorgan Chase & Co., will acquire 31% of the membership interests; Allianz Renewable Energy Partners of America LLC will acquire 39%; Capital One NA will acquire 15%; and RBC Tax Credit, an indirect unit of Royal Bank of Canada, will acquire 15%.

The parties requested the commission for an approval decision by March 10. (Docket No. EC17-71)