in News Departments > Projects & Contracts
print the content item

EDF Renewable Energy and UBS International Infrastructure Fund have signed a definitive agreement under which UBS will acquire a 50% equity interest in the developer's 161 MW Spinning Spur II wind farm project, subject to completion of construction and customary conditions precedent.

Earlier this year, EDF exercised an option to acquire the remaining 49% interest in Spinning Spur II from Cielo Wind Power LP, bringing EDF's ownership to 100%.

Spinning Spur II, located in Oldham County, Texas, commenced construction in June and is expected to enter commercial operation around July 2014. The wind farm will utilize 87 1.85-MW GE wind turbines, and EDF notes that the project is slated to advantage of the new Competitive Renewable Energy Zone transmission lines in Texas.

“The transaction model allowed EDF Renewable Energy to team up with a strong partner like UBS Infrastructure early in the project lifecycle,” says the developer’s Raphael Declercq. “EDF Renewable Energy will remain in charge of development, construction and tax-equity financing until commercial operation is achieved; we will then bring in our expertise in operations and maintenance through EDF Renewable Services to optimize both partners’ long-term investment profitability.”

Spinning Spur II will be UBS International Infrastructure Fund's sixth investment and its second renewables acquisition. Floyd Gent, head of Americas for UBS International Infrastructure Fund, comments, “Spinning Spur II, upon completion of its construction, is expected to generate stable, long-term returns for the fund, consistent with our investment objective.”



Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.


How To Mitigate Blade Issues And Costly Downtime

Routinely inspecting your turbine's blades can help identify problems early on, ultimately cutting down unscheduled maintenance costs.

Canwea_id1984
Renewable NRG_id1934