The Federal Energy Regulatory Commission cleared Wells Fargo Central Pacific Holdings, Inc. on Oct. 4 to purchase 100% nonmanaging and passive stakes in two solar projects located in California from an indirect subsidiary of Sempra Energy.
The Wells Fargo & Co. subsidiary will purchase the passive interests in Great Valley Solar 1 and Great Valley Solar 2, located in Fresno County, Calif., according to the FERC filing.
Great Valley Solar 1 will sell its output to Marin Clean Energy and Great Valley Solar 2 will sell its output to Sacramento Municipal Utility District, both under 20-year power contracts.
The Sempra subsidiary will retain control over day-to-day activities at the solar projects. (FERC docket EC17-143)