trending Market Intelligence /marketintelligence/en/news-insights/trending/sYE8VqPAJ4ifD9DuixrYTQ2 content esgSubNav
In This List

Wells Fargo seeks FERC approval to acquire interests in 2 Calif. solar farms

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Research Brokers Accelerate Their Coverage of Electric Vehicles

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms


Wells Fargo seeks FERC approval to acquire interests in 2 Calif. solar farms

Wells Fargo Central Pacific Holdings Inc. intends to acquire class A membership interests in two solar farms, owned by an indirect subsidiary of Sempra Energy, for an unspecified amount.

In a July 31 application with the Federal Energy Regulatory Commission, the Wells Fargo & Co. subsidiary will purchase 100% of the nonmanaging and passive stake in the Great Valley Solar facilities that are currently under construction in Fresno County, Calif.

The 102.5-MW Great Valley Solar 1 project will sell its output to Marin Clean Energy under a 20-year power purchase agreement while the 62.5-MW Great Valley Solar 2 facility will sell its output to Sacramento Municipal Utility District under a 20-year power contract.

An indirect subsidiary of Sempra Energy will retain the class B membership interests and will manage, direct and control the day-to-day activities in the solar projects.

The commission is requested to approve the transaction by Oct. 1. (FERC docket EC17-143)