Castleton Commodities International LLC (CCI), a global energy commodity merchant, has acquired Sherbino I Wind Farm LLC through one of its subsidiaries.
Located in Pecos County in West Texas, Sherbino I is a 150 MW project that sells renewable energy into the Electric Reliability Council of Texas market. NRG and BP teamed up in 2008 to build the project.
With this new addition, CCI now owns and/or provides management services to 12 power generation assets totaling approximately 3.6 GW across the U.S. and Europe. The transaction has an effective date of May 31.
“We are pleased to add this wind farm to our North American power portfolio both for its renewable attributes and the attractive market opportunity it represents,” says Arvind Rajpal, executive director in CCI’s U.S. power principal investments team. “CCI’s ability to assess the opportunity and conduct due diligence in a compressed time frame allowed us to be successful in this transaction.”
Mercer Thompson served as legal counsel, and Guggenheim Securities LLC acted as exclusive financial advisor.