Starwood Energy Group Global LLC has sold 49 percent of its stakes in the Texas-based Horse Creek and Electra wind farms. The buyer was Munich Re Group, advised by its asset manager MEAG. No financial terms were disclosed.
GREENWICH, Conn., Aug. 23, 2017 /PRNewswire/ — Starwood Energy Group Global, LLC (“Starwood Energy”), a leading private investment firm focused on energy infrastructure, announced today that it has sold 49% of its interests in the Horse Creek and Electra wind farms to Munich Re Group, advised by its group-internal asset manager MEAG.
Horse Creek and Electra, located in Haskell and Wilbarger Counties, Texas, are identical 230MW wind projects that were constructed by Starwood Energy and began operations in late 2016.
“We are excited to be partnering with an organization with MEAG’s reputation and capabilities. We look forward to the continued success of the Horse Creek and Electra projects, as well as the growth of our relationship with the MEAG team,” said Himanshu Saxena, Senior Managing Director and Co-Head of Starwood Energy Group.
“The investment makes an attractive and sustainable contribution to the continued geographical diversification and expansion of our US infrastructure portfolio. Around 200,000 US households are provided with renewable electricity from these wind farms. We are now looking forward to working with our new partner Starwood,” says MEAG Managing Director Holger Kerzel.
About Starwood Energy Group Global, LLC
Starwood Energy Group is a private investment firm based in Greenwich, CT that specializes in energy infrastructure investments, with a focus on natural gas and renewable power generation, transmission, storage and related projects. Through its Starwood Energy Infrastructure Funds and affiliated investment vehicles, Starwood Energy Group has raised approximately $3 billion of equity capital and has executed transactions totaling more than $6 billion in enterprise value. The Starwood Energy Group team brings extensive development, construction, operations, acquisition and financing expertise to its investments. Starwood Energy Group is an affiliate of Starwood Capital Group Global, L.P. Additional information about Starwood Energy Group as well as Starwood Capital Group can be found at www.starwoodenergygroup.com.