Joint Base MDL Land Targeted for Private Energy Venture
Acreage at Joint Base McGuire-Dix-Lakehurst appears headed for development into energy production by private investors.
Air Force officials at Joint Base San Antonio-Lackland in Texas say they're entering talks to lease three of six possible tracts for an energy-based enhanced use lease (EUL).
Negotiations, they said, will take place with a group called the Starwood Siemens team.
Starwood Energy Group is a subisidiary of the Connecticut-based Starwood Capital Group Global L.P., a 22-year-old venture firm primarily rooted in real estate. Siemens has a global presence in technology and infrastructure development, built over 165 years since its origins in Germany.
Also involved in the project are Keenan Development Associates of South Carolina and CB&I, which maintains world headquarters in Texas and the Netherlands.
EULs are long-range deals that the Air Force undertakes with public and private entities to lease "non-excess" land in its possession for cash or trade.
Energy development and commercial real estate are identified as typical uses aimed at saving money and upgrading regional infrastructures while maintaining mission goals.
The Air Force Civil Engineer Center is said to have entered into eight EUL agreements, with revenue and other considerations totalling about $250,000,000.
According to the Air Force, the Starwood Siemens team and the Siemens Energy Management subsidiary would create energy projects on three of six targeted tracts.