Starwood Energy Closes Financing on 211-Megawatt Texas Wind Farm

January 8, 2014 by  
Filed under Green Energy News

Starwood Energy Group Global LLC, the
Greenwich, Connecticut-based private-equity firm, arranged
financing for a 211-megawatt Texas wind farm it bought in August
from T. Boone Pickens’s Mesa Power Group LLC.

The Stephens Ranch project, about 45 miles (72 kilometers)
south of Lubbock, will use General Electric Co. (GE) turbines and is
expected to be completed in late 2014, Starwood said today in a
statement. The wind farm is the first of two phases that will
eventually total 377 megawatts.

Banco Santander SA (SAN) and Citigroup Inc. are providing tax-equity financing and $265 million in construction debt. GE is
also contributing tax equity and Starwood has committed all of
the cash equity.

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

To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net

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