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.  ( PFR, 6/18/14).

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 ( PFR, 4/21/16, PFR, 4/15/15).

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 agreement.

Tenaska developed the project and financed it with a construction-plus-seven-year term loan provided by 15 lenders in 2014 ( PFR, 6/19/14).

Representatives of Riverstone Holdings in New York, SunEdison in Belmont, Calif., and Tenaska in Omaha, Neb., did not respond to inquiries by press time.

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