EDF Renewable Energy has acquired the 200-MW Longhorn North Wind Project in Texas from Renewable Energy Systems Americas (RES Americas).
RES Americas will construct Longhorn, its 18th renewable energy project in Texas, under a Balance of Plant (BOP) agreement. Construction on the 200-MW project will begin in time to qualify it for the federal Production Tax Credit (PTC), which goes to projects in construction by the end of 2013, with this project expected to be completed at the end of 2014.
The project, located in Floyd and Briscoe counties, 60 miles northeast of Lubbock, Texas, will utilize the CREZ (Competitive Renewable Energy Zone) transmission lines to connect the wind generating capacity of the Texas Panhandle to high electricity demand areas in the state.
“Longhorn North represents our third acquisition in Texas this year bringing EDF Renewable Energy’s expected in-state commissioning over the next 18-months to 561 megawatts. This represents a key component of our growth strategy for 2014 and 2015,” said Ryan Pfaff, Executive Vice President of EDF Renewable Energy, in a Dec. 18 statement. “The strong relationship between EDF Renewable Energy and RES Americas made this transaction possible, and enabled the project to commence construction prior to the December 31, 2013 PTC qualification deadline.”
“In addition to creating jobs and driving economic development in Texas, Longhorn North will provide sustainable, carbon-free power for years to come. We look forward to working with EDF Renewable Energy on this and future projects,” said Andrew Fowler, Chief Operating Officer of RES Americas.
EDF Renewable Energy has also secured a long-term, fixed-price hedge agreement for the expected energy production of the project.
EDF Renewable Energy’s portfolio consists of 4 GW of developed projects with 1.9 GW of installed capacity. It is the U.S. subsidiary of EDF Energies Nouvelles, the renewable energy arm of the EDF group, the leading electricity company in the world.
RES Americas is a fully-integrated renewable energy company that develops, constructs, owns, and/or operates projects across North America. The company has a construction portfolio of more than 6,500 MW of renewable energy, and offers a full suite of development and construction services for wind, solar, and transmission projects. Its corporate office is located in Broomfield, Colo., with regional offices located in Austin, Texas, and Minneapolis, Minn. RES Americas is part of the RES Group, a leading international renewable energy developer.