Insights

Washington, D.C., November 24, 2015: Crowell & Moring, LLP represented NRG Yield, Inc. in the acquisition of a 75 percent interest in a portfolio of wind assets from NRG Energy for $210 million in cash plus assumed project debt of $145 million and tax equity of $97 million. The portfolio consists primarily of assets acquired by NRG Energy from Edison Mission in 2014. The assets represent 814MW of generating capacity in Iowa, Minnesota, Nebraska, New Mexico, Oklahoma, Pennsylvania, Texas and Utah.

The Federal Energy Regulatory Commission’s (FERC) new rules under Order No. 860 take effect on April 1, 2021, and will change the way market-based rate (MBR) filings are made. FERC’s aim is to create a relational database to contain MBR seller information that ultimately will allow, among other things, for the automatic generation of an appendix of relevant affiliated assets and indicative market power screens. The first focus will be for each MBR seller to make a baseline submission to FERC’s MBR Portal between April 1 and August 2, 2021. 

The Federal Energy Regulatory Commission (“FERC”) issued Order No. 872, its much-anticipated decision adopting major revisions to its regulations implementing the Public Utility Regulatory Policies Act of 1978 (“PURPA”).  PURPA generally requires utilities to purchase power from certain renewable energy sources and cogeneration projects (“Qualifying Facilities” or “QFs”) at the utilities’ “avoided cost” in order to incent generation development using those fuel sources. 

The Federal Energy Regulatory Commission (FERC) announced various measures to ease burdens of regulated entities so that the energy industry can focus on continuity, safety, and stability during the COVID-19 pandemic.