Starwood Energy to Acquire Greenleaf 1 & 2 Facilities from MUFG
April 26, 2016
Source: Starwood Energy Group website
Greenwich, CT – APRIL 26, 2016 – Starwood Energy Group Global, LLC, a leading private investment firm focused on energy infrastructure, announced today that an investment affiliate has entered into an agreement with affiliates of Mitsubishi UFJ Financial Group (MUFG) to acquire Greenleaf 1 & 2, two 49.5MW gas-fired power plants located in California.
The transaction is subject to customary conditions and regulatory approvals, and is expected to close in the second quarter of 2016. Financial terms of the transaction were not disclosed.
Both facilities—which MUFG acquired from Calpine Corp. in 2015—sell their capacity and energy under power purchase agreements with Pacific Gas & Electric Co. Greenleaf 2 also provides steam to Sunsweet Growers, Inc. under a steam offtake agreement.
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. Additional information about Starwood Energy Group as well as Starwood Capital Group can be found at www.starwoodenergygroup.com.
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