starwoodenergygroup.com
starwoodenergygroup.com
Starwood Energy Group Global LLC, a leading private investment firm focused on energy infrastructure, announced Nov. 2 that it has finalized agreements to finance and construct the 100-megawatt (MW) Northwest Ohio Wind Project located in Paulding County.

The project, which will utilize GE 2.5-116 wind turbines, is contracted to sell 100 percent of its output to General Motors pursuant to a long-term power purchase agreement.

Construction will be performed by White Construction Inc. and is expected to be completed in fall 2018.

An affiliate of Citi has committed to provide tax equity for the project and Rabobank will provide the construction and term debt. Additional financial details were not disclosed.

“We are excited to have assembled a great team of trusted partners for Northwest Ohio Wind,” said Alex Daberko, principal of Starwood Energy Group. “We look forward to continued collaboration with the local community to make this project successful.”

Starwood Energy Group acquired the rights to the Northwest Ohio Project in October 2014 from developer Trishe Resources Inc.

“Citi is proud to support Starwood Energy and the Northwest Ohio Wind Project,” said Marshal Salant, global head of alternative energy finance at Citi. “This innovative partnership highlights Citi’s commitment to sustainable growth and to financing the development of clean renewable energy infrastructure.” The transaction contributes to Citi’s $100 billion Environmental Finance Goal to support environmental solutions and accelerate the global transition to a low-carbon economy.

“Rabobank is proud of our ongoing relationship with the Starwood Energy team,” said Tony Muoser, managing director of Rabobank’s Project Finance Group. “We are excited to partner with Starwood again and contribute to the successful completion of this project.”

Starwood Energy Group Global LLC and General Motors both announced the signing of a long-term renewable energy power purchase agreement in September.

This new project will add about 40 new wind turbines to Latty and Blue Creek townships in southern Paulding County with a cost near $200 million.

The last wind farm project completed was the 100 MW Amazon Wind Farm U.S. Central for Amazon.com.