Terra-Gen Power LLC, a portfolio company of ArcLight Capital Partners, has acquired a portfolio of six wind projects from Airstream Energy LLC. No financial terms were disclosed. The projects are expected to generate approximately 2500MW of wind energy, and are based in Wyoming, Nebraska, Colorado, Kansas and New Mexico.
Terra-Gen Power, LLC, (“Terra-Gen”), a wholly-owned affiliate of ArcLight Capital Partners (“ArcLight”), announced today that, through an affiliated project company, it has acquired a portfolio of six wind projects from Airstream Energy, LLC (“Airstream”). The projects, which are located in Wyoming, Nebraska, Colorado, Kansas and New Mexico are in various stages of development and, when fully constructed, are expected to generate and sell approximately 2500MW of wind energy.
In addition, Terra-Gen and Airstream have executed a Development Services Agreement, which will retain the continuing services of Airstream for the development of the projects and ensure a seamless transition.
“Airstream has established a very strong presence in key geographies with exceptional wind resources,” said Jim Pagano, CEO of Terra-Gen. “They have done a commendable job in creating value by securing high-quality project sites and we look forward to working with Airstream to bring these projects to completion.”
Cameron Epard, President of Airstream, added, “We are very pleased to be associated with Terra-Gen. Their unique combination of a world-class development team, strong financial backing and long-term commitment to the renewables business is a great fit for us.”
ABOUT TERRA-GEN POWER:
Terra-Gen Power is a leading renewable energy company headquartered in New York City with offices in San Diego, Denver, and Reno. Terra-Gen owns interests in the three Coso (302 MW), Dixie Valley (67 MW) and Beowawe (18 MW) geothermal projects; Cameron Ridge (64 MW), Pacific Crest (47 MW), San Gorgonio (43 MW), Foote Creek II-IV (44 MW), Texas Big Spring (34 MW), Ridgetop (29 MW), Peetz (30 MW), Oak Creek (23 MW), 251 (17 MW), VG Repower (7 MW), and Chandler (2 MW) wind power projects; the SEGS VIII (80 MW), SEGS IX (80 MW) solar power projects; in addition to its recently acquired (through an affiliate) 3100 MW wind development pipeline (California Highwind Power). Terra-Gen provides operation, maintenance and management to twenty of the projects. More information about Terra-Gen can be found at http://www.terra-genpower.com.
ArcLight is one of the world’s leading energy investment firms with more than $6.8 billion under management. ArcLight’s investment team has extensive energy investing experience, industry relationships, and asset level knowledge. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, London and Luxembourg. More information about ArcLight can be found at http://www.arclightcapital.com.
Airstream Energy, LLC, is a leading developer of environmentally friendly power generation projects, specializing in wind, solar, and natural gas technologies. Located in Denver, Colorado and Scottsdale, Arizona, Airstream Energy is primarily focused on developing projects in the Rocky Mountain West and Midwest regions of the United States. Additional information regarding Airstream Energy can be found at www.airstreamenergy.com.