EDF Closes Financing on Texas Wind Farm, Sells Stake to UBS Fund

July 7, 2014 by  
Filed under Green Energy News

EDF Renewable Energy, a U.S. unit of
the French utility Electricite de France SA, closed financing on
a Texas wind farm and sold half of its stake in the project to
UBS AG (UBS)’s International Infrastructure Fund.

GE Energy Financial Services Inc. and MUFG Union Bank NA
provided equity for the 161-megawatt Spinning Spur II project,
San Diego-based EDF Renewable Energy unit said today in a
statement. Financial details weren’t disclosed. Sandi Briner, an
EDF spokeswoman, didn’t immediately return phone and e-mail
messages seeking comment.

Spinning Spur II, now operational, is the second renewable-energy project in which the UBS fund has invested, according to
the statement.

EDF last year bought from Cielo Wind Power LP the 49
percent stake of Spinning Spur II that it didn’t own. The wind
farm, in Oldham County, about 40 miles (64 kilometers) west of
Amarillo, uses 87 1.85-megawatt General Electric Co. turbines
and is expected to power about 44,000 homes.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Tina Davis

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