The Abu Dhabi Future Energy Co. (Masdar) has announced a share purchase agreement to acquire John Laing Group PLC’s interests in two U.S. wind farms.
Under the terms of the acquisition, Masdar will acquire John Laing’s interests in the Rocksprings wind farm in Texas and the Sterling wind farm in New Mexico. This marks the first North American renewable energy investment for the Abu Dhabi-based company. Masdar will own the interests in a partnership with French renewable power producer Akuo Energy, with whom Masdar already has an ongoing partnership for the 72 MW Krnovo Wind Farm in Montenegro.
The transaction is expected to close in the first half of this year. The 149 MW Rocksprings project, commissioned in 2017, comprises 53 GE 2.3 MW and 16 GE 1.72 MW turbines at a site in Val Verde County, Texas. The Sterling project in Lea County, N.M., has a total installed capacity of 29.9 MW, provided by 13 GE 2.3 MW turbines. This project was also commissioned in 2017.
“Extending our reach into the United States is a defining moment for Masdar’s clean energy operations and a further step forward in our efforts to expand the company’s global renewable energy portfolio, which now encompasses more than 25 countries,” says Mohamed Jameel Al Ramahi, CEO of Masdar.