UBS Buys 50 Percent Stake in Texas Wind Farm From EDF RenewablesJustin Doom
UBS AG’s International Infrastructure Fund purchased a 50 percent stake in a 161-megawatt Texas wind farm owned by a unit of French utility Electricite de France SA.
Construction began in June on Spinning Spur II, adjacent to EDF’s Spinning Spur I, and it’s expected to be operational by mid-2014, the companies said in a joint statement today. Terms of the sale weren’t disclosed.
The wind farm, about 30 miles (48 kilometers) west of Amarillo, will use 87 1.85-megawatt General Electric Co. wind turbines.
EDF, based in Paris, said in April it had a 10-year contract to sell power from the project without naming the buyer.