Starwood Energy Group Global,
LLC, a leading private investment firm focused on energy infrastructure,
announced today that an affiliate has entered into an agreement with
affiliates of Exelon Corp. to acquire a natural gas combined cycle electric
power generating facility in Odessa, Texas.
The electric power generating facility, located in the Permian Basin region of
west Texas, began commercial operations in 2007 and has a nominal capacity of
550 megawatts. The facility provides electric power to the Electric
Reliability Council of Texas (ERCOT) system, a power market serving 24 million
Texas customers and representing about 90 percent of the state's electric
load.
The transaction is subject to customary conditions and regulatory approvals
and is expected to close in the fourth quarter of 2014. Financial terms of the
transaction were not disclosed.
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