Marubeni Invests in California Wind Developer

Marubeni Corporation announced that it will acquire a 56.3 percent interest in Oak Creek Energy Systems, Inc. (OCES), a wind energy developer located in Tehachapi, California, through a $21.5 million equity investment.

OCES currently has more than 5,000 megawatts (MW) of wind energy projects in its development pipeline in the Southwest U.S. The single largest of these is the Alta Wind Energy Center, which will provide the generation capacity of 1,550 MW to Southern California Edison. Marubeni also plans to invest in the Alta Wind Energy Center project.

The Alta Wind Energy Center will be constructed over five years beginning in 2010. Marubeni, plans to help OCES fulfill its development obligations resulting from a 1,550 MW power purchase agreement with Southern California Edison and also plans to support OCES with wind turbine procurement and finance.

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