trending Market Intelligence /marketintelligence/en/news-insights/trending/6xxYK9VsFL6J--jOSbU5Og2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Sammons Renewable Energy acquires 238-MW wind farm in Texas

Blog

US utility commissioners: Who they are and how they impact regulation

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Energy Insights, April 2021

Blog

The Heightened Regulatory Environment: Is the Banking Sector Facing More Fines?


Sammons Renewable Energy acquires 238-MW wind farm in Texas

Sammons Renewable Energy Holdings Inc. acquired the 238-MW Rio Bravo (Cabezon) wind farm in Starr County, Texas, from Longroad Energy Partners LLC for an undisclosed amount.

The 66-turbine project is expected to enter operation by June 2019. The facility holds a 15-year power purchase agreement with Citigroup Inc.

Longroad Energy said it will make a $49.4 million repayment to Infratil Ltd. in connection with the sale, according to a Dec. 14 news release. Infratil and the New Zealand Superannuation Fund each own 40% interests in Longroad Energy; its management owns the remaining 20%.

A subsidiary of Berkshire Hathaway Energy will provide tax equity financing for the project. Construction financing was led by KeyBank NA, with Zions Bank, HSBC, National Australia Bank, CIBC and Landesbank HessenThuringen rounding out the lending group.

KeyBanc Capital Markets served as the coordinating lead arranger and acted as financial advisor to Longroad on the sale. Franklin Park identified and assisted with the structuring and closing of the acquisition on behalf of Sammons Renewable Energy.