New Projects, Renewables, Wind

165 MW Texas wind project secures financing

Starwood Energy Group Global LLC, a private investment firm focused on the energy industry, announced its affiliate has completed agreements to finance and construct its second wind farm, a 165-MW project 45 miles south of Lubbock, Texas.

The Stephens Ranch II project will use GE (NYSE: GE) 1.7-100 turbines and will be built by Wanzek Construction.

Affiliates of Citi, Morgan Stanley and MUFG will invest tax equity in the wind project, and affiliates of Starwood Energy Group have committed 100 percent cash equity.

The project is scheduled for completion by mid-2015.