Starwood Announces 165 Megawatt Wind Project Near Lubbock

Published 08/24 2014 04:05PM

Updated 08/24 2014 04:08PM

LUBBOCK, TX -- Connecticut-based Starwood Energy Group Global, LLC announced last week it will finance and construct the second part of a wind farm project 45 miles south of Lubbock.  The second phase of the Stephens Ranch project is 165 megawatts for a total of 377 megawatts when the entire project is complete. 

Starwood acquired the Stephens Ranch in August 2013 from Mesa Power - an entity owned by T. Boone Pickens. 

A written statement said, “Affiliates of Citi, Morgan Stanley and MUFG have committed to invest tax equity in the project, and affiliates of Starwood Energy Group have committed 100% of the cash equity.”

Construction debt was said to be $207 million.  Starwood said in a written statement that completion is scheduled for mid-2015. 

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