Starwood Energy Group Global LLC has closed the acquisition of Coram Wind, a 102 MW wind farm located in Tehachapi, Calif., from Consolidated Edison Development Inc.
Coram Wind is fully contracted through a power purchase agreement with Pacific Gas & Electric, with approximately 11 years of remaining contract life.
“Our relationship with ConEd goes back many years across many different verticals, and we’re excited to build on that foundation with this transaction and our continued partnership,” says Alex Daberko, a managing director at Starwood Energy.
The transaction was financed through two separate bank loans, led by MUFG, CIT Bank and Nomura Securities International Inc.
Skadden, Arp, Slate, Meagher & Flom LLP served as legal counsel to Starwood Energy, and Paul Hastings LLP represented the bank lenders.