Shannon Wind is in a confirmed sale-and-wind-down posture: the court has approved a $129.5 million sale of substantially all assets to 1370 Clean Energy LLC and confirmed the debtor’s Chapter 11 plan, leaving closing, effective-date mechanics, claims reconciliation, and liquidation-trust administration as the remaining path. The case began on January 25, 2026, after Winter Storm Uri-related hedge exposure with Citigroup Energy Inc. overwhelmed the single-asset wind project; the first-day declaration describes a 204.1 MW Clay County, Texas wind farm whose fixed-price hedge left it buying replacement power during the storm at ERCOT’s $9,000/MWh cap, followed by CEI remedies, a CRO appointment, and a $5 million protective advance before the filing First Day DeclarationDkt. 14.
The Chapter 11 case was structured around lender-controlled liquidity and a fast sale. The final cash-collateral order authorized use of cash collateral, granted replacement liens and superpriority adequate-protection claims to the prepetition secured parties, imposed budget reporting and a 115% rolling four-week variance covenant, and set sale milestones requiring approval by June 5, 2026 and consummation within 150 days of the petition date Final Cash Collateral OrderDkt. 67. The debtor then filed a combined disclosure statement and plan that contemplated either a sale transaction or new-equity transaction, with restructuring proceeds, retained causes of action, and a GUC recovery contribution flowing through a liquidation trust administered by Accordion Partners Chapter 11 PlanDkt. 128.
On June 3, 2026, the court approved the 363 sale to 1370 Clean Energy LLC after no competing qualified bids produced an auction, authorizing transfer of the wind project free and clear and setting a June 24, 2026 outside closing date unless extended Sale OrderDkt. 224. The same day, the court approved the disclosure statement on a final basis and confirmed the plan, with the impaired secured and general unsecured classes accepting, equity deemed to reject, Accordion appointed to administer the wind-down, and post-effective-date deadlines including a 30-day administrative bar date, a 45-day professional-fee bar date, and a July 24, 2026 governmental bar date Confirmation OrderDkt. 225.
