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Sumitomo Corporation of Americas (SCOA) and Sumitomo Corporation (SC) (collectively Sumitomo) have acquired the remaining shares of the Mesquite Creek Wind Farm in Western Texas from co-developer BNB Renewable Energy (BNB) to achieve 100% ownership of the project.
Sumitomo also announced that they have entered into a long-term agreement with Mars Inc. to purchase the renewable energy from the wind farm which will allow Mars to be effectively carbon neutral in their electricity consumption for 20+ years. Sumitomo secured financing for the project through funding from a syndicate of banks including, Bank of Tokyo Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation and Mizuho Bank. Turbine delivery is scheduled to begin at the end of the summer with commerical operations expected for the second quarter of 2015.
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