Silver Ridge Power, a joint venture owned
by Riverstone Holdings and SunEdison, is
selling its nearly 40% stake in a California solar project.
The 150 MW project, called Imperial Solar Energy Center
West, will be wholly owned by Tenaska following the sale, which
is described in a filing with the U.S. Federal
Energy Regulatory Commission.
SunEdison obtained its interest in the project in 2014
through its acquisition of a 50% stake in Silver Ridge Power
from AES Corp. (
SunEdison owns its share of the J.V. through a subsidiary
called Silver Ridge Power Holdings, which
filed for Chapter 11 bankruptcy protection along with its
parent last year (
The Imperial Solar Energy Center West, which is located in
the city of El Centro in Imperial County, has been online since
last year and sells its full output to San Diego Gas
& Electric under a 25-year power purchase
Tenaska developed the project and financed it with a
construction-plus-seven-year term loan provided by 15 lenders
in 2014 (
Representatives of Riverstone Holdings in New York,
SunEdison in Belmont, Calif., and Tenaska in Omaha, Neb., did
not respond to inquiries by press time.