On 15 July 2010, San Diego Gas & Electric (SDG&E) announced that it had filed an application to the California Public Utility Commission (CPUC) to authorize a US$600 million tax equity investment in the 309 MW Rim Rock wind farm. The facility is currently being developed by wind developer Naturener in Montana, US. The move, if approved by regulators, would mark the first direct tax equity investment by a regulated utility in wind following the deterioration of the financial markets in 2008.