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FERC approves IIF US Holding acquisition of stake in Southwest Generation

The Federal Energy Regulatory Commission on Jan. 23 authorized IIF US Holding LP to purchase an additional 49.923% indirect controlling stake in Southwest Generation Operating Company, LLC.

Under the proposed transaction, an IIF US Holding affiliate will purchase the membership in Southwest Generation Operating from a consortium of Australian investment funds for an undisclosed amount, becoming the only owner with a more than 10% stake. The company already owns a 49.923% voting interest in Southwest Generation Operating.

Southwest Generation Operating owns a natural gas-fueled power generation portfolio that includes the 45-MW Century Generating and 45-MW Drews Generating plants in California; the 51.4-MW Goal Line, 107.4-MW Harbor Cogeneration and the 36.2-MW Kingsburg Cogeneration facilities in California; the 240-MW Fountain Valley plant, the 130-MW Arapahoe CC plant and the 80-MW Valmont CT project in Colorado; and the 149-MW Valencia Energy Facility in New Mexico.

The applicants are required to inform the commission within 10 days of completing the transaction. (FERC docket EC18-38)