AMP Ltd., an Australian pension company, provided a major capital investment in wind energy owner Capistrano Wind Partners LLC. The partnership acquires and operates large-scale wind energy projects nationwide. Capistrano was formed last year by CIRI, Teachers Insurance and Annuity Association and College Retirement Equities Fund (TIAA-CREF) and Edison Mission Energy.
“The new investment from AMP Capital, on behalf of a large Australian fund client, will help to fund the growth of the wind energy project portfolio,” AMP said in a statement. The investment was made by the Sydney-based company’s AMP Capital Investors Ltd. unit.
Capistrano currently owns five operating wind farms in Nebraska, Texas and Wyoming with a combined total of 413 megawatts of generating capacity. All wind projects in the portfolio have long-term power sales agreements with investment grade electric utilities and had already begun commercial operations at the time of acquisition.
“The investment by AMP strengthens our partnership and is an affirmation of the Capistrano business model,” said Stig Colberg, CIRI chief financial officer. “For CIRI, the investment in Capistrano will deliver reliable returns for our shareholders and establish CIRI as a financier of major domestic energy infrastructure.”