Castleton Commodities International LLC (CCI), a global energy commodity merchant, announced that it has closed on the acquisition of Sherbino I Wind Farm LLC through one of its subsidiaries. The transaction has an effective date of May 31st, 2019.
Sherbino I is a 150-MW wind farm in Pecos County, Texas that sells renewable energy into ERCOT. With the addition of this acquisition, CCI now owns and/or provides management services to 12 power-generation assets totaling approximately 3,600 MW across the U.S. and Europe.
“We are pleased to add this wind farm to our North American power portfolio both for its renewable attributes and the attractive market opportunity it represents,” said Arvind Rajpal, Executive Director in CCI’s US Power Principal Investments team.
Mercer Thompson served as legal counsel and Guggenheim Securities LLC acted as exclusive financial advisor to CCI in this transaction.
“CCI’s ability to assess the opportunity and conduct due diligence in a compressed timeframe allowed us to be successful in this transaction,” added Rajpal.
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