Affiliates of Tenaska Energy Inc. received approval from the Federal Energy Regulatory Commission to become sole owners of the 150-MW Imperial Solar Energy Center in California.
Under the transaction, Tenaska CSOLAR West Holdings LLC and Tenaska CSOLAR West LLC will acquire approximately 39.6% interest in the Imperial County-based project from Imperial County Solar Inc. for an undisclosed sum. The two affiliates currently own about 60.4% stake in the facility, which holds a 25-year power purchase agreement with Sempra Energy subsidiary San Diego Gas & Electric Co.
At closing, Tenaska CSOLAR West Holdings will own 99% of the ownership and 98.99% of membership interests in the facility with Tenaska CSOLAR West owning the remaining 1% ownership stake and 1.01% of the membership stake, according to a June 2 filing.
Imperial County Solar is jointly owned by Riverstone Holdings LLC and SunEdison Inc. (FERC docket EC17-111)