Copenhagen Infrastructure Partners invests in 162.2 MW onshore wind farm in Texas
Copenhagen Infrastructure Partners (“CIP”) will, through the fund Copenhagen Infrastructure II K/S (“CI-II”), make a net equity investment of approximately 80m USD for the construction of Bearkat II onshore wind farm in Glasscock County, Texas.
The wind farm will consist of 47 V126-3.45 MW Vestas turbines for a total capacity of 162.2 MW. Bearkat II is expected to commence commercial operations in December of 2019 and qualifies for 100% of Production Tax Credits (“PTC”). One or more tax equity investors will enter the project at commercial operations and will be providing the remaining capital.
Bearkat II has been co-developed with the Dallas-based developer TriGlobal Energy. The Balance of the Plant (“BOP”) will be executed by Black & McDonald, a leading BOP contractor in the North American onshore wind market. Vestas will provide operational and maintenance services for the turbines via a 30-year service agreement. The project will sell its generated power to the ERCOT power market.
“We are very pleased to announce our investment in the Bearkat II wind project, which demonstrates our continued commitment to investing in best-in-class renewable energy projects in the U.S. This achievement would not be possible without the support of our local partner, TriGlobal Energy, and the continued cooperation with Vestas and Black & McDonald. We look forward to the project coming online later this year to create local jobs and help reduce carbon emissions by delivering clean, renewable wind energy,” says Christian Skakkebæk, Senior Partner at CIP.
Bearkat II represents what will be the fifth project in a larger portfolio of US onshore wind assets which CI-II has invested in, with an aggregate capacity of 821 MW. The project is expected to generate electricity equivalent to the electricity consumption of more than 56,000 average US households a year.
Copenhagen Infrastructure Partners K/S. Press release - Copenhagen Infrastructure Partners invests in 162.2 MW onshore wind farm in Texas. URL: http://cipartners.dk/copenhagen-infrastructure-partners-invests-162-2-mw-onshore.... [Date Accessed: 11/03/2019].
(CI-III) acquired the 374 MW onshore wind portfolio Monegros in Aragon, Spain and has
commenced construction of the first projects totalling 113 MW.