Sempra Generation, a unit of San Diego’s Sempra Energy, has acquired a stake in a utility-scale Colorado wind farm.
Sempra Generation has acquired a 50 percent stake in Colorado’s 250 megawatts Cedar Creek II Wind Farm from BP�s� wind power unit.
The companies did not disclose the financial terms.
Once operational in June 2011 Cedar Creek II will sell its output under a 25-year power purchase agreement to Public Service Company of Colorado, an Xcel Energy company.
Spanish bank Banco Santander and Soci�t� G�n�rale, the Paris-based bank, are leading the $300 million long-term, none-recourse financing supporting the construction of the facility. Bank of Tokyo-Mitsubishi, BBVA and Lloyds TSB have also reportedly stepped in.
Sempra and BP are also equal partners on the 200 megawatts� Fowler Ridge II Wind Farm in Indiana.
By year-end, when Cedar Creek II goes live, Sempra will have 125 megawatts of wind capacity.