Starwood Energy And Energy Management Inc. Close On Sale Of Lakehurst Solar To Con Edison Development
GREENWICH, Conn., Jan. 7, 2020 /PRNewswire/ — An investment affiliate of Starwood Energy Group Global, LLC (“Starwood”) and Energy Management, Inc. (“EMI”), announced today that it closed on the sale of Lakehurst Solar (“Lakehurst”) to Consolidated Edison Development, Inc. (“Con Edison Development”), a subsidiary of Consolidated Edison, Inc. (NYSE: ED).
Lakehurst is an approximately 14.4 MWDC solar project currently under construction at Joint Base McGuire-Dix-Lakehurst (“JB MDL”), a mission-critical, tri-service military base in central New Jersey. The solar project was developed by an affiliate of Starwood, of Greenwich, CT, and an affiliate of EMI, of Boston, MA. The project was developed pursuant to the Air Force’s Enhanced Use Lease program, an effort by the military to partner with private developers to achieve real asset optimization and long-term energy security.