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Terra Firma buys 150MW California wind farm

3 Apr 2012

Private equity firm Terra Firma is to acquire a 150MW California wind farm from Terra-Gen through its wind energy development portfolio company EverPower.

The Alta VI wind farm is located in Tehchapi and marks a significant bolstering of EverPower’s assets.

Terra Firma first acquired the business in August 2009 and Guy Hands, chairman and CIO of Terra Firma, said it would further grow it through a combination of capital expenditure on development programmes and acquisitions.

‘The Alta VI project is the ideal next step in our strategy to expand the business,’ he said.

Alta VI is part of the Alta Wind Energy Center and the project is expected to be fully operational in the second half of 2012. It already has a power purchase agreement in place for 100 per cent of its expected output of energy and renewable attributes.

Jim Spencer, president and CEO of EverPower Wind Holdings, said, ‘We are extremely pleased to add Alta VI to our portfolio. Alta VI is located in a region recognised as a premier wind resource in the Californian market.

‘This purchase is an extension of our overall strategy of owning assets near attractive load centers such as the north-east and West Coast.’

Copyright © 2012 NewNet


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