Skyline, an independent clean energy platform in the US, will manage the portfolio after the closure of the transaction later in 2018.

Located in Haskell and Wilbarger counties in Texas, Horse Creek and Electra are 230MW wind projects constructed by Starwood Energy, which began operations in 2016.

Each project comprises 100 GE 2.3MW turbines and both include long-term hedges.

Starwood, a private investment firm focused on energy infrastructure, sold 49% interest in the wind farms to MEAG, Munich Re’s asset manager, in 2017.

After the latest acquisition, Skyline Renewables will increase its wind portfolio to 686MW of controlled capacity. The company was formed in 2018 as a partnership between Ardian and Transatlantic Power Holdings.

Starwood Energy CEO Himanshu Saxena said: “This transaction is the culmination of many years of work by the Starwood team to develop these high-quality energy infrastructure assets, and create value for our limited partners.

“We’re delighted that Skyline’s reputation for skilled and experienced management will continue to provide these communities with valuable revenue.”

In September 2018, Skyline Renewables announced its first acquisition of 60MW Whirlwind Energy project, and 166MW Hackberry Wind Farm project, both in Texas.

Skyline Renewables president and CEO Martin Mugica said: “This is a very important step in our goal to become a leading independent clean energy platform with great assets that are well positioned to take advantage of changing dynamics in the renewable energy industry.

“We pride ourselves in our nimbleness and experienced value driven acquisitions and Starwood did an excellent job developing these wind farms. We look forward to maximizing revenues with our management expertise.”

Starwood Energy Group, based in Greenwich, Connecticut, specializes in energy infrastructure investments. Ardian is a private investment house with assets of $72bn managed or advised in Europe, the Americas and Asia.

In August, Starwood Property Trust signed an agreement to acquire GE Energy Financial Services’ Project Finance Debt Business and loan portfolio for $2.56bn.