Ardian Acquires MEAG / Munich Re Minority Stake in 460 MW Horse Creek and Electra Wind Farms in Texas
MEAG has completed the sale of its minority stake in the Horse Creek and Electra onshore wind farms in Texas (combined 460 MW, operational since 2016) to Ardian, an existing long-term partner in the assets. The transaction, held on behalf of Munich Re since 2017, consolidates Ardian's full ownership within the ERCOT market.
Transaction date: · Source: meag.com
Key facts
- Transaction date
- Technology
- Onshore Wind
- Capacity
- 460 MW
- Transaction price
- Not disclosed
- Buyer
- Ardian
- Seller
- MEAG
- Country
- United States
- Region
- Texas
- Location
- Horse Creek and Electra, Texas, USA (ERCOT market)
- Continent
- North America
- Development status
- Operational
- PPA
- n.a.
Technology details
Two operational onshore wind farms in Texas: Horse Creek and Electra, with a combined installed capacity of 460 MW. Both assets have been operational since 2016 and generate renewable electricity within the ERCOT market. Ardian consolidates full ownership following MEAG's exit.
Additional information
MEAG managed the minority stake on behalf of Munich Re since 2017. Ardian was already a long-term partner and existing co-owner in both assets prior to the transaction. The deal consolidates Ardian's full ownership of Horse Creek and Electra. MEAG was advised by Holland & Knight (legal) and Santander (financial). Ardian was advised by Gibson, Dunn & Crutcher LLP and McGuireWoods LLP (legal). Stake size not disclosed.
Source
Original announcement: https://www.meag.com/de/informieren/37195.html