Starwood Energy Group Global L.L.C., a Greenwich-based private investment firm focused on energy infrastructure, recently completed financial agreements through an affiliate on a second Texas wind project.
The Stephens Ranch project, a two-phase project totaling 377 megawatts, is expected to complete its second phase by mid-2015.  The 165-megawatt second phase of the project is the second wind farm the company agreed to finance and construct. The first wind farm project was a 211-megawatt project, which closed in January with GE, Santander and Citigroup providing financial support. The 211-megawatt project is expected to be completed by the end of 2014.
The project will be financed in partnership with affiliates of Citigroup Inc., Morgan Stanley and Mitsubishi UFJ Financial Group, which have committed to provide $207 million through a nonrecourse construction loan. An unnamed Starwood affiliate is providing the cash equity.
The wind project is “attractive” and “consistent” with Starwood Energy Group”™s investment strategy, said Bradford Nordholm, the company’s CEO and managing director.
The Starwood Energy Group affiliate acquired Stephens Ranch in August 2013 from Mesa Power, a wind energy company owned by T. Boone Pickens, chairman of BP Capital Management. Starwood Energy is a subsidiary of Starwood Capital Group.
