News provided byPacolet Milliken LLC
Dec 04, 2024, 08:30 ET
GREENVILLE, S.C., Dec. 4, 2024 /PRNewswire/ — Pacolet Milliken, LLC (“Pacolet”), a sustainability-focused, family-owned investment firm, announced today it has acquired 100% of Anderson Wind Farm (“Anderson”) from an affiliate of Goldman Sachs Asset Management. Anderson is a 14.95MW, 8 turbine wind farm in Chaves County, New Mexico. The terms of the transaction were not disclosed.
Anderson generates over 50,000 MWh of electricity per year, providing clean power to 5,000 homes. The project achieved commercial operations in 2014 and sells power to Western Farmers Electric Cooperative under a long-term power purchase agreement.
“This transaction marks a significant milestone for Pacolet’s Power & Infrastructure portfolio as we expand into wind energy for the first time and increase our presence in the Southwest. We are excited to collaborate with our new partners and local regulatory authorities to advance our mission of delivering renewable energy solutions to the communities we serve,” said William Crawford, Chief Executive Officer of Pacolet.
Lance Jordan, Co-Head and Chief Investment Officer of Pacolet Power & Infrastructure, added, “Anderson is a high-quality asset that aligns with our sustainability goals while also delivering enhanced value for our shareholders. We are excited about this transaction and hope to pursue additional wind energy investments in the region.”
Vinson & Elkins served as legal advisor for Pacolet on the transaction.
About PACOLET MILLIKEN
Headquartered in Greenville, SC., Pacolet is a family-owned investment firm that owns and manages power & infrastructure and real estate assets located across the United States. Pacolet’s Power & Infrastructure consists of a diverse set of power, renewables and infrastructure assets, including a regulated electric portfolio, an industrial utilities company and a substantial solar and landfill gas portfolio. Pacolet Real Estate has a national portfolio of industrial, multi-family, office, and retail properties, and currently focuses on multi-family and industrial warehouse development in the Southeast, the Southwest and Southern California. In both Divisions, Pacolet seeks to positively impact the communities in which it operates and be a steward of the environment from a generational perspective.
https://www.pacoletmilliken.com
SOURCE Pacolet Milliken LLC