New Joint Venture Acquiring Wind Farms

By: Associated Press
By: Associated Press

A new joint venture funded by TIAA-CREF and an Alaska company, Cook Inlet Region, Inc. is acquiring two wind farms in Wyoming.

The two companies have joined with Edison Mission Energy to form Capistrano Wind Partners LLC.

They're investing $460 million in the venture, which is taking over Mountain I and Mountain II wind farms near Evanston.

Edison Mission Energy is a subsidiary of Edison Mission Group, which now owns the farms.

Capistrano is also acquiring the 150-turbine Cedro Hill wind farm in Texas.

The venture could buy up to seven wind farms, including two now being built in Nebraska -- the 42-megawatt Crofton Bluffs project and the 80-megawatt Broken Bow project.

TIAA-CREF manages retirement funds for teachers and other nonprofit workers.

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