EDF Sells Stake in Spinning Spur II Wind Farm Project to UBS
EDF Renewable Energy (EDF) and UBS International Infrastructure Fund (UBS) signed a definitive agreement under which UBS will acquire a 50 percent equity interest from EDF in the 161-MW Spinning Spur II wind farm project, subject to completion of construction and customary conditions precedent. Spinning Spur II, located in Oldham County Texas, commenced construction in June 2013 with an expected commercial operation date on or about July 1, 2014. Spinning Spur II will utilize 87 General Electric wind turbines with a rated capacity of 1.85 MW each. The project will be one of the first to take advantage of the new Competitive Renewable Energy Zones (CREZ) transmission lines connecting the wind generating capacity of the Texas Panhandle to high electricity demand areas in the state.