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KKR seeks approval to sell stake in 2 Calif. solar projects

A subsidiary of investment firm KKR & Co. is seeking the approval of the Federal Energy Regulatory Commission to sell its membership interests in the 20-MW RE Rosamond I and the 20-MW RE Rosamond II solar facilities in Kern County, Calif.

The Rosamond facilities are on adjacent sites within the California ISO balancing authority area and are exempt wholesale generators.

The buyer's upstream owner, Goldman Sachs Renewable Power LLC, may also add investors before deal close up to one year from the date the commission approves the transaction. The additional investors would own non-managing membership interests in Goldman Sachs Renewable Power and have limited consent or veto rights for certain major decisions.

The applicants asked the commission to approve the deal by Sept. 10. (FERC docket EC18-125)