EDF Closes Financing on Texas Wind Farm, Sells Stake to UBS FundJustin Doom
EDF Renewable Energy, a U.S. unit of the French utility Electricite de France SA, closed financing on a Texas wind farm and sold half of its stake in the project to UBS AG’s International Infrastructure Fund.
GE Energy Financial Services Inc. and MUFG Union Bank NA provided equity for the 161-megawatt Spinning Spur II project, San Diego-based EDF Renewable Energy unit said today in a statement. Financial details weren’t disclosed. Sandi Briner, an EDF spokeswoman, didn’t immediately return phone and e-mail messages seeking comment.
Spinning Spur II, now operational, is the second renewable-energy project in which the UBS fund has invested, according to the statement.
EDF last year bought from Cielo Wind Power LP the 49 percent stake of Spinning Spur II that it didn’t own. The wind farm, in Oldham County, about 40 miles (64 kilometers) west of Amarillo, uses 87 1.85-megawatt General Electric Co. turbines and is expected to power about 44,000 homes.