Starwood Energy announced that commercial operation of 211-megawatt Stephens Ranch Wind Project in Texas has begun in November 2014.
In addition, Starwood has closed the tax equity funding with affiliates of GE Energy Financial Services and Santander Bank, N.A. Financial details were not disclosed.
Stephens Ranch consists of the first of two phases of the project having a total of 377 MW capacity. The second phase is expected to reach commercial operation in mid-2015.
Located near the town of Lubbock, the construction of the project started in 2013 by Wanzek Construction installing 118 GE 1.79-megawatt wind turbines.
The project will supply power to the CREZ (Competitive Renewable Energy Zone) transmission infrastructure in Texas.
Besides, the power will be sold into the ERCOT (Electric Reliability Council of Texas) power market under a long-term agreement.
Stephens Ranch Wind will generate enough electricity to power approximately 65,000 homes, nullifying approximately 550,000 metric tons of greenhouse gas emissions per year.
In another development, an affiliate of Starwood Energy has entered into an agreement with Lakeside Energy to acquire 369 MW Lakeside Generation portfolios of three natural gas facilities, one located in Pennsylvania and two in New York.
LINKED NRG Energy to provide sustainable power for Starwood luxuries
The portfolio consists of Hazleton, a 158 MW facility in Pennsylvania; Syracuse, a 103 MW combined cycle facility in New York; and Beaver Falls, a 108 MW cogeneration combined cycle facility in New York.
Hazleton will sell power to the PJM power market which serves 13 states and the District of Columbia.
Syracuse and Beaver Falls will sell power into the NYISO power market which serves the state of New York.
In Oct 2014, Starwood Energy completed agreements to acquire the 250 megawatt Northwest Ohio Wind Project in Van Wert and Paulding Counties from Trishe Resources.
Since 2003, wind generation has increased so far from three percent to over 30 percent of total renewable generation in Texas.
Sabeena Wahid
[email protected]