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Shell to exit 50% stake in 264-MW wind facility in West Virginia

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Shell to exit 50% stake in 264-MW wind facility in West Virginia

Shell WindEnergy Inc. is seeking the Federal Energy Regulatory Commission approval to sell its 50% interest in the 264-MW NedPower Mount Storm wind farm in Grant County, W.Va., to an affiliate of Castleton Commodities International LLC.

Under the proposed transaction, project owner NedPower Mount Storm LLC will sell 50% of its membership interests to Castleton Commodities affiliate CCI Power Asset Holdings II LLC for undisclosed financial terms. Prior to the deal, subsidiaries of Dominion and Royal Dutch Shell PLC each held 50% membership interests in NedPower.

In a separate deal which was already approved by FERC, Dominion Energy Inc., through NedPower, will sell its 50% stake in the facility to CCI Power Asset Holdings. The deal has not yet closed. (FERC docket EC19-60)

Once both transactions have been completed, CCI Power Asset Holdings will be the sole owner of NedPower. (FERC docket EC19-97)

Energy Trading Innovations LLC owns and controls about 87% of Castleton Commodities International, a global energy commodities trading firm.