Starwood Energy Group Global, LLC, a private investment firm focused on energy infrastructure, has completed the purchase of the Quail Run Energy Center natural gas-fired combined cycle electric power generating facility in Odessa, Texas.
Starwood Energy has assumed ownership and began operating the power plant in January this year.
The electric power generating facility began commercial operations in 2007 and has a nominal capacity of 550 megawatts. The facility provides electric power to the Electric Reliability Council of Texas (ERCOT) system, a power market serving 24 million Texas customers and representing about 90 percent of the state’s electric load.
This is the ninth natural gas-fired electric power generating facility built or acquired by affiliates of Starwood Energy since 2006. ERCOT represents the seventh electric power market in North America in which Starwood Energy has owned natural gas-fired, biomass, wind, and solar power generating facilities.
Himanshu Saxena, Managing Director of Starwood Energy Group, stated:
“We are pleased to have acquired Quail Run at an attractive value. Quail Run is a well maintained and efficient facility in a growing market and we look forward to further optimizing the facility through a combination of new short and long-term power offtake agreements.”