UBS partners EDF for Texas wind
Swiss finance group UBS will buy a 50% stake in a 161MW Texas wind power project under development by EDF Renewable Energy (EDF RE).
The deal involves the Spinning Spur 2 wind farm in Oldham County, which is due to enter commercial operation in July next year.
The half-share will be taken by UBS International Infrastructure Fund, subject to completion of construction and other conditions.
EDF RE – the US arm of the French energy group – had taken full control of Spinning Spur 2 by buying out former partner Cielo Wind Power in April.
At that stage it also confirmed the wind farm would use 87 1.85MW GE wind turbines.
The French group’s EDF Renewable Services unit will operate and maintain the plant post-completion.
The project will be among the first to tap into the new CREZ (Competitive Renewable Energy Zones) transmission lines connecting the Texas Panhandle with demand centres in the state.