Starwood Energy Group Global, LLC, an affiliate of global private investment firm Starwood Capital Group that specializes in energy infrastructure investments, announced yesterday that an affiliate has completed agreements to acquire the 250 megawatt (MW) Northwest Ohio Wind Project in Van Wert and Paulding Counties, Ohio.
Starwood Energy Group's investment affiliate acquired the project from Trishe Resources, Inc. Financial terms of the transaction were not disclosed.
Construction on the project began in December 2013. The first phase, sized at 100 MW, is expected to achieve commercial operations by late 2015.
Himanshu Saxena, Managing Director of Starwood Energy Group, said:
"We look forward to working together with the local communities to make this project a success. We are committed to developing such energy infrastructure projects, which will provide clean and competitively priced power for many years to come."
Starwood Energy Group earlier this year announced its first two wind farm investments—two phases totaling 377 MW for the Stephens Ranch project, located 45 miles south of Lubbock, TX. An affiliate of Starwood Energy Group committed 100% of the cash equity for the project, with the two phases scheduled to be completed by mid-2015.
Through its general opportunity funds, Starwood Energy Infrastructure Fund I and II, and other affiliated investment vehicles, Starwood Energy Group manages total equity commitments in excess of $2 billion, and has executed transactions totaling more than $4 billion in enterprise value.