Stamford, Conn.-based Castleton Commodities International LLC has completed its acquisition of NedPower Mount Storm LLC, a wind project in Grant County, W. Va.
CCI had previously closed on a 50% ownership stake in Mount Storm in June. Now, the global energy commodity merchant owns the entire facility.
Mount Storm is a 264 MW wind farm located 120 miles west of Washington, D.C. The project, which sells its renewable energy into the PJM market, was completed in 2008 by Dominion and Shell.
CCI also owns Sherbino I Wind Farm LLC, a 150 MW project in Texas. With the addition of the Mount Storm wind farm, CCI now owns and/or provides management services to 13 power generation assets, totaling approximately 3.8 GW, across the U.S. and Europe.
“This is CCI’s second wind farm acquisition this year, and we are pleased to add Mt. Storm to our power portfolio,” says Chase Horine, vice president of CCI’s U.S. power principal investments team. “CCI has a proven track record of acquiring and optimizing power assets in Europe and North America. Mount Storm is a high-quality asset that diversifies the portfolio and highlights CCI’s expanding renewable footprint.”
Mercer Thompson served as legal counsel, and Guggenheim Securities LLC acted as exclusive financial advisor.