The Federal Energy Regulatory Commission on Nov. 9 approved a Sept. 27 application from Brady Wind LLC, Brady Wind II LLC and Brady Interconnection LLC related to passive investment in two newly-completed wind projects in North Dakota of NextEra Energy Resources LLC.
The FERC approval covers the transfer of certain indirect, passive, non-managing interests in the applicants to BAL Investment & Advisory Inc. (BALIA) or an affiliate thereof, and The Bank of New York Mellon (BNY Mellon) or an affiliate thereof. These companies will acquire 100% of the passive, non-managing Class B membership interests in Nokota Wind LLC, which will own 100% of the membership interests in the applicants.
•Brady Wind will own and operate an approximately 149.7-MW wind facility (Brady Facility) located in Stark County, North Dakota, within the Southwest Power Pool (SPP) market. Brady is a party to a generator interconnection agreement with the Western Area Power Administration (WAPA), and was to start producing test energy as early as Oct. 25, 2016. Brady has entered into a long-term power purchase agreement (PPA) with Basin Electric Power Cooperative for 100% of the power produced by the Brady Facility, including test energy. Brady is an exempt wholesale generator (EWG) and is authorized to sell power at market-based rates.
•Brady Wind II will own and operate an approximately 149-MW wind facility located in Stark and Hettinger counties, North Dakota, within the SPP market. The Brady II Facility will interconnect with WAPA, under a generator interconnection agreement with WAPA and SPP, and may start producing test energy as early as Nov. 15, 2016. Brady II has entered into a long-term power purchase agreement with Basin Electric for 100% of the power produced by the Brady II Facility, including test energy. Brady II is an EWG and is authorized to sell power at market-based rates.
•Brady Interconnection will neither own nor control generation, and has no plans to sell electric power. It will own and enable the Brady Facility and Brady II Facility to use an approximately 19-mile, 230-kV generation tie-line, and certain equipment in a collection substation serving the facilities in Stark County, North Dakota. Facilities owned by Brady Interconnection will serve to interconnect the Brady Facility and Brady II Facility to the Daglum Substation. Brady Interconnection is authorized to sell power at market-based rates and has filed a notice of self-certification for exempt wholesale generator status.
These companies are part of NextEra Energy Resources, which is a subsidiary of NextEra Energy (NYSE: NEE). BALIA is an indirect, wholly owned subsidiary of Bank of America Corp. BNY Mellon is a New York chartered bank and is a wholly owned subsidiary of The Bank of New York Mellon Corp.
A wholly-owned subsidiary of NextEra Resources, Nokota Wind Holdings LLC, will be the managing member of Nokota. All of the day-to-day management of Nokota, and indirectly of the applicants, and matters not constituting major decisions will be decided upon exclusively by Nokota Wind Holdings.
This article was republished with permission from Generation Hub.