Lotus Completes Acquisition of Quail Run Energy CenterFebruary 9, 2015 in Press Releases
GREENWICH, Conn., Feb. 9, 2015 /PRNewswire/ — Starwood Energy Group Global, LLC, (Starwood Energy) a leading private investment firm focused on energy infrastructure, announced today that one of its affiliates has completed the purchase of the Quail Run Energy Center natural gas-fired combined cycle electric power generating facility in Odessa, Texas. Starwood Energy assumed ownership and began operating the power plant in January.
The electric power generating facility began commercial operations in 2007 and has a nominal capacity of 550 megawatts. The facility provides electric power to the Electric Reliability Council of Texas (ERCOT) system, a power market serving 24 million Texas customers and representing about 90 percent of the state’s electric load.
This is the ninth natural gas-fired electric power generating facility built or acquired by affiliates of Starwood Energy since 2006. ERCOT represents the seventh electric power market in North America in which Starwood Energy has owned natural gas-fired, biomass, wind, and solar power generating facilities.
“We are pleased to have acquired Quail Run at an attractive value. Quail Run is a well maintained and efficient facility in a growing market and we look forward to further optimizing the facility through a combination of new short and long-term power offtake agreements,” commented Himanshu Saxena, Managing Director of Starwood Energy Group.
About Starwood Energy Group Global, LLC
Starwood Energy Group is a private investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its general opportunity funds Starwood Energy Infrastructure Fund I and II, and other affiliated investment vehicles, Starwood Energy Group manages total equity commitments in excess of $2 billion and has executed transactions totaling more than $4 billion in enterprise value. The Starwood Energy Group team brings extensive development, construction, operations, acquisition and financing expertise to its investments, with a focus on the natural gas and renewable power generation, and transmission sectors. Starwood Energy Group is an affiliate of Starwood Capital Group Global, L.P.
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