Starwood Energy sells 49% stake in two windfarms to Munich Re Group

24 August 2017 (Last Updated August 24th, 2017 18:30)

US-based Starwood Energy Group Global has sold 49% of interest in its Horse Creek and Electra windfarms to Munich Re Group for an undisclosed sum.

Starwood Energy sells 49% stake in two windfarms to Munich Re Group

US-based Starwood Energy Group Global has sold 49% of interest in its Horse Creek and Electra windfarms to Munich Re Group for an undisclosed sum.

The deal was advised by Starwood Energy’s internal asset manager Meag Munich Ergo Asset Management (MEAG).

Located in Haskell and Wilbarger Counties in Texas, each farm is capable of generating 230MW.

They were built by Starwood Energy and began operations last year.

"Around 200,000 US households are provided with renewable electricity from these windfarms."

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 windfarms.”

The two facilities consist of 100 GE 2.3-116 wind turbines each. They have a 13-year offtake agreement with Bank of America Merrill Lynch and a long-term, fixed-price service agreement with GE.


Image: Starwood’s Marie SEIF I Investment facility located in Ontario, Canada. Photo: courtesy of Starwood Energy Group.