Starwood Energy Group divests minority interest in two Texas wind farms
Starwood Energy Group Global, a private investment firm focused on energy infrastructure, has divested 49% of its interests in the Horse Creek and Electra wind farms to Munich Re Group, which has been advised by its group-internal asset manager MEAG.
Horse Creek and Electra, situated in Haskell and Wilbarger counties of Texas, are 230MW wind projects, which were constructed by Starwood Energy. The projects commenced operations in late 2016.
Starwood Energy Group senior managing director and co-head Himanshu Saxena said: "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.
MEAG managing director Holger Kerzel said: "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."
Based in Greenwich, Connecticut, Starwood Energy Group is a private investment firm specialising in energy infrastructure investments. It focuses on natural gas and renewable power generation, transmission, storage and related projects.