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United States

UBS to acquire 50% stake in 161MW Texas project

UNITED STATES: EDF Renewable Energy has sold 50% of a 161MW Texas wind project to UBS International Infrastructure Fund.

A number of wind farms are concentrated in the Texas Panhandle
A number of wind farms are concentrated in the Texas Panhandle

Work on the Spinning Spur II wind farm in the Texas Panhandle started in June, with commissioning expected in July 2014.

The project will feature 87 GE 1.82-87 and is set to be one of the first to take advantage of the new competitive renewable energy zones (CREZ) transmission lines connecting the wind projects of the Texas Panhandle to high electricity demand areas in the state.

EDF will remain in charge of development, construction and tax-equity financing until commercial operation is achieved.

The financial terms of the deal, which is subject to the completion of construction, were not revealed.

Spinning Spur will be the infrastructure fund's second wind acquisition after it bought a 50% stake in the 206MW Collgar wind farm in Western Australia in 2010.

Spinning Spur I, owned by EDF and Google, was brought online in 2012 and also has a capacity of 161MW.

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