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GE Energy Financial Services seeks FERC approval to sell stakes in 4 facilities

GE Energy Financial Services on Oct. 11 filed an application with the Federal Energy Regulatory Commission, seeking approval to sell interests in four power generation facilities to funds managed by affiliates of Apollo Global Management LLC.

In the application, GE Energy Financial Services is seeking approval for the sale of its 25% interest in the 1,050-MW CPV Fairview Energy Center in Cambria County, Pa.; the 813-MW Caledonia Power Project in Lowndes County, Miss., leased to the Tennessee Valley Authority; 25% interest in the 655-MW Russell City Energy Center in Alameda County, Calif.; and 70% indirect interest in the 125-MW Arlington Valley Solar Energy Project II in Maricopa County, Ariz.

The proposed transaction is part of a previously announced deal in which GE Capital's energy financial services unit will sell a portfolio of $1 billion in energy investments. The portfolio is comprised of roughly 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets.

GE Capital is a subsidiary of General Electric Co.

The commission is requested to approve the deal by Nov. 22. (FERC docket EC19-9)