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Msg  292 of 298  at  7/17/2020 11:15:58 AM  by

jerrykrause


Dominion Energy to sell stake in Ind. wind farm to BP

from  SNL Energy Finance Daily
 

Dominion Energy to sell stake in Ind. wind farm to BP

 
Byline: Usman Khalid
 

Dominion Energy Inc. asked for the Federal Energy Regulatory Commission's approval to sell its stake in the Fowler Ridge Wind Farm, located in Benton and Tippecanoe counties, Ind., to oil major BP PLC.

Dominion Energy affiliate Dominion Generation Inc. owns a 50% stake in a 301.3-MW portion of the four-unit wind farm. The remaining 50% membership interest is owned by BP subsidiary BP Alternative Energy International Ltd. After the transaction is completed, BP will own 100% interest the Fowler Ridge I wind farm, according to a July 13 application to FERC.

The output of Fowler Ridge I is sold under two power purchase agreements, 100 MW to American Electric Power Co. Inc. subsidiary Indiana Michigan Power Co., and 200 MW to Dominion unit Dominion Energy Marketing Inc., according to the application. The purchase agreement with Dominion Energy Marketing will be terminated as part of the transaction.

The applicants asked the commission to approve the transaction by Aug. 27. (FERC docket EC20-81)

BP Alternative Energy splits ownership of the 200-MW Fowler Ridge II facility with an AEP subsidiary and owns the 99-MW Fowler Ridge III wind farm outright, according to S&P Global Market Intelligence data. The 150-MW Fowler Ridge IV Wind Farm is majority-owned by Pattern Energy Group Inc.

 


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