JPMorgan Wins Ruling Over Wind Farm in Texas Winter Storm Case

The impacts of Winter Storm Uri in February 2021 weren’t enough to excuse a wind energy provider from supplying JPMorgan Chase Bank NA with energy under a contract, a magistrate judge said.

Canadian Breaks LLC owns a wind farm in the Texas Panhandle and entered into a “two-part transaction” agreement with JPMorgan: It would sell energy to the state’s electricity grid and buy back a fixed daily amount of energy to then resell to JPMorgan for a fixed price, the judge explained.

When Winter Storm Uri hit, Canadian Breaks was able to perform its obligations under the agreement for ...