Sherbino I features 50 of Vestas V90/3000 wind turbines with 3MW output, 90m diameter, and 80m Hub height.
Image: Sherbino I Wind Farm is a joint venture established between NRG Energy and BP Wind Energy North America. Photo: Courtesy of Castleton Commodities International LLC.
Castleton Commodities International (CCI) has closed on the acquisition of Sherbino I Wind Farm, which owns and operates Sherbino I wind energy facility Pecos County, Texas, through one of its subsidiaries.
The transaction involving the purchase of Sherbino I Wind Farm would be effective from 31 May 2019.
CCI said that the acquisition adds up to its portfolio making the company own or provide management services for 12 power generation assets totalling approximately 3,600MW across the US and Europe.
CCI US power principal investments team executive director Arvind Rajpal said: “We are pleased to add this wind farm to our North American power portfolio both for its renewable attributes and the attractive market opportunity it represents.
“CCI’s ability to assess the opportunity and conduct due diligence in a compressed timeframe allowed us to be successful in this transaction.”
For the transaction, Law firm Mercer Thompson served as legal counsel and Guggenheim Securities served as exclusive financial advisor to CCI.
Sherbino I Wind Farm details
Sherbino I Wind Farm is a result of a partnership between NRG Energy and BP Wind Energy North America. In February 2008, NRG Energy, through its wholly owned subsidiary, Padoma Wind Power, entered into an equal-stake joint venture with BP Alternative Energy North America to build the first phase of the wind farm.
With a capacity of 150MW, the Sherbino I Wind Farm is located approximately 65km east of Fort Stockton in Pecos County, Texas, and sells renewable energy to the Electric Reliability Council of Texas (ERCOT) which manages the electric power on the Texas Interconnection that supplies power to Texas customers.
The wind farm is located on a site spanning more than 9,000 acres area on a mesa with an elevation of approximately 3,000 feet above sea level.
It consists of 50 Vestas wind turbines, each of which has the potential to generate 3MW power. The wind farm helps in preventing the emission of more than 350,000 tonnes of carbon into the atmosphere.