The US unit of Germany’s BayWa r.e. has sold the 19.8MW Brahms wind farm in eastern New Mexico to an affiliate of the Macquarie Group, Macquarie Infrastructure Company (MIC), for US$10.6 million including transaction costs.
Although MIC already manages a portfolio of solar projects, this transaction is the company’s first investment in wind power generation.
James Hooke, chief executive officer of MIC, stated:
We have been discussing the potential to diversify our Contracted Power and Energy segment into projects other than solar photovoltaic for some time.This particular opportunity meets our investment criteria in that it is an existing facility with a proven wind resource, there is a 20 year power purchase agreement in place with an investment grade counterparty, and we were able to structure the investment in a manner that provides us with good visibility into the cash generating of the facility, similar to our existing contracted power projects.
On 10 February 2014, BayWa commissioned the 19.8MW Brahms wind project four months after start of construction. The facility utilizes 12 Vestas 1.65MW V82 wind turbines that top out at more than 250 feet, and a power substation along Curry Road 34, near Curry Road Q.
Energy generated at Project Brahms is sold to Western Farmers Electric Cooperative in Oklahoma.
Macquarie Infrastructure Company (MIC) owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States.