Pattern Energy Group LP has closed the financing and started construction of its Panhandle Wind project, a 218-MW development located in the Texas Panhandle.
The project is utilizing Texas’ new Competitive Renewable Energy Zone (CREZ) transmission infrastructure, which connects to the state’s main power grid operator, the Electric Reliability Council of Texas (ERCOT), Pattern Energy noted in an Aug. 20 statement.
“The Panhandle Wind Project will be among the first projects in the Texas Panhandle to connect to the new CREZ transmission lines, which PEG LP was instrumental in bringing to fruition,” said Mike Garland, CEO of PEG LP. “This Project will provide multiple benefits to Carson County and its residents, including more than 200 construction jobs, at least 12 permanent operations and maintenance positions, and clean energy for up to 60,000 Texas homes without using any of the region’s limited water supplies.”
Mortenson Construction is overseeing construction of Panhandle Wind, which will use 118 GE 1.85-MW turbines, as well as construction of a 345-kV substation, transmission line and operations facility. Completion is estimated in August 2014.
“We are delighted to partner with Pattern Energy Group LP on our 11th project together—particularly one that will have such a positive impact on the local community,” said Tim Maag, VP and general manager of Mortenson Construction’s U.S. Wind Energy Group. “We expect to create between 200 and 250 jobs during the peak of construction and many of those jobs will come from Carson County and the surrounding areas.”
Panhandle Wind will sell power to Citigroup Energy under a long-term hedge offtake agreement. GE Energy Financial Services and Citigroup Global Markets will invest structured equity in the project. PEG LP – which developed the project and is serving as the project’s managing member and will provide operations and maintenance – is receiving construction loans from BayernLB, Credit Agricole Corporate and Investment Bank, Nord/LB, Landesbank Baden-Wuerttemberg, RBC, RBS, and Societe Generale.
Pattern Energy is an independent, fully-integrated energy company that develops, constructs, owns, and operates renewable energy and transmission assets in the United States, Canada and Latin America. PEG LP’s highly-experienced team of scientists, engineers, construction experts, and legal and financial professionals has developed, financed and placed into operation nearly 3,000 MW of wind power projects. PEG LP currently operates about 1,000 MW of installed wind capacity in North America and Puerto Rico. The company’s full development pipeline exceeds 3,000 MW of renewable energy and transmission projects.