ArcLight Capital's Leeward Renewable Energy Closes on Acquisition of Membership Interest in Cedar Creek I Wind Farm
DALLAS, June 2, 2016 /PRNewswire/ -- Leeward Renewable Energy, LLC ("Leeward"), an affiliate of ArcLight Capital Partners, LLC, announced today that Cedar Creek Wind I Member LLC, a Leeward entity, has completed the purchase of BP Wind Energy North America Inc.'s ("BP Wind Energy") 33 1/3 percent membership interest in CCWE Holdings, LLC ("Cedar Creek I"). Leeward is the sole member of Cedar Creek I and will continue to manage the facility. The acquisition continues Leeward's strategy to expand its holdings of high quality wind assets throughout the U.S.
The Cedar Creek I Wind Farm is a 301 MW facility located near Grover, CO. In operation since 2007, it utilizes Mitsubishi and GE turbines, which deliver clean and reliable power to Public Service of Colorado under a long-term contract that expires in 2027.
The nearby Cedar Creek II Wind Farm will continue to be operated by BP Wind Energy and to be jointly owned by affiliates of BP Wind Energy and Sempra U.S. Gas and Power.
About ArcLight Capital Partners, LLC
ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, we helped pioneer an asset-based private equity approach to investing in the dynamic North American energy sector. We have invested approximately $15.3 billion in 97 transactions since inception, generating strong realized returns for our limited partners from 62 exits across diverse market cycles. Based in Boston, our 29-person investment team targets midstream, power and production opportunities with substantial growth potential, significant current income and meaningful downside protection, typically on a proprietary basis. We employ a hands-on value creation strategy that utilizes our in-house technical, operational and commercial specialists as well as our 400-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclightcapital.com.
About Leeward Renewable Energy, LLC
Leeward is a renewable energy business with interests in 18 U.S. wind farms across nine states with a total installed capacity of approximately 1,557 MW. For further information please visit our website: www.leewardenergy.com.
SOURCE Leeward Renewable Energy, LLC
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