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FERC approves Renew Development to acquire 4 SunPower solar plants in California

The Federal Energy Regulatory Commission on Oct. 15 approved a request by Renew Development Holdco LLC to acquire full membership interests in four solar projects totaling approximately 362 MW from SunPower Corp.

Upstream owners of Renew Development HoldCo are GIM Participation Funding Holding LP and funds managed by Global Infrastructure Management Participation LLC.

The projects are the 170-MW Golden Fields Solar II, the 86-MW Golden Fields Solar III, the 84-MW Golden Fields Solar IV and the 22-MW Golden Fields Solar V, all of which are in development in Kern County, Calif. The projects, excluding Golden Fields Solar V, are parties to an agreement to share common premises and facilities, including approximately 3 miles of a 220-kV transmission line to interconnect to the Los Angeles Department of Water and Power.

Renew Development Holdco is a subsidiary of Zephyr Renewables LLC, which also owns all class B and class D common stock in Clearway Energy Inc., formerly known as NRG Yield Inc.

The applicants expect to consummate the transaction within 10 days of the approval. (FERC docket EC18-148)