Edison Mission Energy – Pleased to enter into a partnership with two experienced investors

Edison Mission Energy , a subsidiary of Edison Mission Group (EMG) (Edison International (NYSE: EIX)), TIAA-CREF, a leading financial services provider, and Cook Inlet Region Inc. (CIRI) announced today that they have formed Capistrano Wind Partners, LLC, a new company that will support and fund the continued growth and development of wind energy projects across North America.

“We are pleased to enter into a partnership with two experienced investors to help drive the growth of clean wind energy in this country,” said Pedro Pizarro, president of EMG.  “EMG has established itself as a leading developer, owner and operator in the U.S. wind energy industry, and Capistrano Wind Partners will now build upon that platform to fund large-scale wind projects with an equity investment that offers the potential for steady cash flows and consistent long-term returns.”

“Investing in operational wind energy developments alongside a leading developer and operator is a natural extension of our natural resources and infrastructure investment platform,” said Lisa Ferraro, managing director, energy investments, TIAA-CREF.  “These investments match TIAA-CREF’s long-term investment focus on infrastructure and energy projects that meet a growing need for energy and that we expect to deliver durable returns.”

“CIRI is excited to team with such high-quality partners as Edison Mission Group and TIAA-CREF to form Capistrano Wind Partners LLC,” said Stig Colberg, CIRI chief financial officer. “This transaction offers potential long-term growth and profitability while developing sustainable, domestic energy resources that will decrease our nation’s reliance on imported energy. CIRI looks forward to working with our new partners to pursue current and future investment opportunities.”

EMG companies currently own and operate a portfolio of 31 wind energy projects in commercial operation or under construction in 11 states with a generating capacity of nearly 2,000 megawatts.

Capistrano Wind Partners will invest in a high-quality, diversified portfolio of U.S. wind projects, each of which will be acquired from EMG.  All wind projects in the portfolio will have long-term power sales agreements in place with electric utilities and will be operational at the time of investment.  EMG will manage and retain an equity interest in the portfolio.

Initial projects in the portfolio include the 61-megawatt Mountain Wind I project and the 80-megawatt Mountain Wind II project, both located in Wyoming, as well as the 150-megawatt Cedro Hill project in Texas.  Projects to be acquired when they become operational include the 42-megawatt Crofton Bluffs project and the 80-megawatt Broken Bow project, both currently under construction in Nebraska.  Capistrano Wind Partners plans to acquire additional, new wind projects from EMG in the future, with an expectation that the portfolio will initially consist of up to seven projects with a total generation capacity of approximately 500 megawatts.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.