CCI had previously closed on a 50% ownership stake in Mt. Storm in June 2019, and has now concluded the acquisition of the remaining 50%.
Castleton Commodities International LLC (CCI) announced that it has closed on the acquisition of NedPower Mt. Storm LLC through one of its subsidiaries.
Mt. Storm is a 264-MW wind farm located 120 miles west of Washington, D.C. in Grant County, West Virginia that sells renewable energy into the PJM market.
CCI also owns Sherbino I Wind Farm LLC, a 150-MW wind farm in Texas. With the addition of the Mt. Storm wind farm, CCI now owns and/or provides management services to 13 power generation assets totaling approximately 3,800 MW across the U.S. and Europe.
“This is CCI’s second wind farm acquisition this year and we are pleased to add Mt. Storm to our power portfolio,” said Chase Horine, VPin CCI’s U.S. Power Principal Investments team. “CCI has a proven track record of acquiring and optimizing power assets in Europe and North America. Mt. Storm is a high-quality asset that diversifies the portfolio and highlights CCI’s expanding renewable footprint.”
Mercer Thompson served as legal counsel and Guggenheim Securities LLC acted as exclusive financial advisor to CCI in this transaction.
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