20 Va. Admin. Code § 5-314-165

Current through Register Vol. 40, No. 22, June 17, 2024

Section 20VAC5-314-165 - Assignment; sale of an existing or proposed SGF

A. At any time after an interconnection request has been submitted by the IC, the IC shall notify the utility of the pending sale of an existing or proposed SGF in writing. The IC shall provide the utility with information regarding whether the sale is a change of ownership of the SGF to a new legal entity or a change of control of the existing legal entity.

B. The IC shall promptly notify the utility of the final date of sale and transfer date of ownership in writing. The purchaser of the SGF shall confirm to the utility the final date of sale and transfer date of ownership in writing.

C. The interconnection agreement shall not survive the transfer of ownership of the SGF to a new legal entity owner. The new owner shall submit a new interconnection request along with a processing fee of $500 to the utility within 20 business days of the transfer of ownership. Where the IC has not executed an interconnection agreement, the utility may continue to study the IC under a pre-existing study agreement or may require the new owner to execute a new study agreement, though under either scenario the new owner would retain the existing queue position. Where an interconnection agreement has been executed and the SGF has been constructed, the utility shall not study or inspect the SGF unless the new owner's interconnection request indicates that a material modification has occurred or is proposed.

D. The interconnection agreement shall survive a change of control of the SGF's legal entity owner, where only the contact information in a study agreement or in the interconnection agreement must be modified. The new owner shall submit a new interconnection request along with a processing fee of $500 to the utility within 20 business days of the change of control and provide the new contact information. Where the IC has not executed an interconnection agreement, the utility may continue to study the IC under a pre-existing study agreement or may require the new owner to execute a new study agreement, though under either scenario the new owner would retain the existing queue position. Where an interconnection agreement has been executed and the SGF has been constructed, the utility shall not study or inspect the SGF unless the new owner's interconnection request indicates that a material modification has occurred or is proposed.

E. The IC shall have the right to assign the interconnection agreement, without the consent of the utility, for collateral security purposes to aid in providing financing for the SGF, provided that the IC will promptly notify the utility of any such assignment. Assignment shall not relieve a party of its obligations, nor shall a party's obligations be enlarged, in whole or in part, by reason thereof.

F. Any attempted assignment that violates this section is void and ineffective.

20 Va. Admin. Code § 5-314-165

Derived from Virginia Register Volume 37, Issue 01, eff. 10/15/2020.

Statutory Authority: §§ 12.1-13 and 56-578 of the Code of Virginia.