AMP Capital to invest $100 million in US wind

UNITED STATES: Australian private equity fund AMP Capital is to invest $100 million in US developer Capistrano Wind Partners.

by James Quilter 12 February 2013

The money will be used to expand Capistrano's wind portfolio, which currently stands at around 413MW covering Texas, Wyoming and Nebraska.

Capistrano was founded last year with a $460 million investment by utiliyu Edison Mission Energy, financial services provider TIAA-CREF and Alaskan regional corporation Cook Inlet Region.

AMP did not give a timeline for the investment.

AMP Capital's head of infrastructure in Europe and North America, Boe Pahari, said: "The US wind energy market is already well established and is a rapidly growing sector of the energy generation market.

"North America is a key area of growth for AMP Capital’s infrastructure business. The investment in Capistrano Wind Partners will provide our investors with additional geographical diversification and exposure to a portfolio of high-quality wind projects."