GREENWICH, Conn., July 13, 2015 /PRNewswire/ -- Abengoa (MCE:
ABG.B/P SM /NASDAQ: ABGB), the company that applies innovative
technology solutions for sustainability in the energy and
environment sectors, and Starwood Energy, a private investment firm
based in Greenwich, CT, have
announced that their joint venture has been selected by the
California Independent System Operator (CAISO) as the approved
sponsor to finance, construct, own, operate and maintain the
Delaney to Colorado River 500 kV transmission line project.
Abengoa and Starwood Energy will undertake joint development of
a 114 mile transmission line between Delaney and Colorado River
substations, reinforcing the electrical interconnection between
both California and Arizona. Abengoa will undertake construction,
operation and maintenance of the transmission line. Total
investment was initially estimated by CAISO at approximately
300 million dollars.
The project is expected to reach commercial operation in 2020
and will bring significant economic benefits to California rate payers.
"This new award will help us to accelerate our development in
the power transmission market in the
United States, where we expect to continue leveraging our
global expertise in order to become a significant player in
development, engineering, construction and maintenance of large
transmission assets," said Santiago
Seage, CEO of Abengoa.
"We are very gratified by CAISO's thorough process, analysis and
decision in the selection of our joint venture as the sponsor of
this new transmission project," added Himanshu Saxena, Managing Director of Starwood
Energy. "This project is a continuation of Starwood Energy's very
successful track record of developing essential energy
infrastructure projects. We are looking forward to making this
project a success for all stakeholders and to helping California meet its ambitious energy
objectives."
About Abengoa
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative
technology solutions for sustainability in the energy and
environment sectors, generating electricity from renewable
resources, converting biomass into biofuels and producing drinking
water from sea water. (www.abengoa.com)
About Starwood Energy Group
Starwood Energy Group is a private investment firm based in
Greenwich, CT that specializes in
energy infrastructure investments. Through its general opportunity
funds known as Starwood Energy Infrastructure Fund I and II, and
other affiliated investment vehicles, Starwood Energy Group manages
total equity commitments of more than $2
billion. The Starwood Energy Group team brings extensive
development, construction, operations, acquisition and financing
expertise to its investments, with a focus on the natural gas and
renewable power generation, and transmission sectors. To date,
Starwood Energy Group and its affiliates have committed to energy
infrastructure transactions totaling approximately $4 billion in enterprise value. Starwood Energy
Group is an affiliate of Starwood Capital Group Global, L.P.
Additional information about Starwood Energy Group as well as
Starwood Capital Group can be found at
www.starwoodenergygroup.com.
You can also follow us on:
Twitter: @Abengoa
Pinterest: http://www.pinterest.com/Abengoa/
YouTube: https://www.youtube.com/user/AbengoaIntl
Instagram: http://instagram.com/abengoaintl
SlideShare: http://www.slideshare.net/AbengoaIntl
Google+:
https://plus.google.com/u/0/102720651898841234213/posts
Facebook: https://www.facebook.com/Abengoa.Intl
LinkedIn: https://www.linkedin.com/company/abengoa
And on our blog: http://www.theenergyofchange.com/
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/abengoa-and-starwood-energy-win-a-114-mile-transmission-line-in-the-southwest-of-the-united-states-300112229.html
SOURCE Starwood Energy Group