Starwood Energy Group Global, a private energy infrastructure investment firm, has started commercial operations of its 211-megawatt Stephens Ranch Wind Project in Texas.
The company also closed tax equity funding with affiliates of GE Energy Financial Services and Santander Bank, N.A. Financial details were not disclosed.
Encompassing more than 47,000 acres in Borden and Lynn Counties, approximately 45 miles south of the town of Lubbock, the project uses 118 sets of GE 1.79-Mw wind turbines. Stephens Ranch represents the first of two phases that will total 377MW. The second phase of Stephens Ranch is expected to reach commercial operation in mid-2015.
The project feeds into the Competitive Renewable Energy Zone transmission infrastructure in Texas. The power is sold into the Electric Reliability Council of Texas power market and supported by a long-term, fixed-price hedge agreement.
