PatternEnergyGroupLP (PEGLP) hasclosedthefinancingandstartedconstructionofitsPanhandleWindFarm, a218MWwindfarmlocatedintheTexasPanhandle.
PanhandleWindwillsellpowertoCitigroupEnergyInc. underalong-termhedgeoff-takeagreement. GEEnergyFinancialServicesandCitigroupGlobalMarketsInc. willinveststructuredequityintheproject. Financialdetailswerenotdisclosed.
PEGLP - whichdevelopedtheprojectandisservingastheproject'smanagingmemberandwillprovideoperationsandmaintenance - isreceivingconstructionloansfromBayernLB, CreditAgricoleCorporateandInvestmentBank, Nord/LB, LandesbankBaden-Wuerttemberg, RBC, RBS, andSocieteGenerale.
MortensonisoverseeingconstructionofPanhandleWind, whichwilluse118GE1.85MWturbines, aswellasconstructionofa345kVsubstation, transmissionlineandoperationsfacility. CompletionisexpectedinAugust2014.
TimMaag, vicepresidentandgeneralmanagerofMortensonConstruction'sU.S. WindEnergyGroup, notesthatthecompanyishappytoworkwithPatternonPanhandleWind, the11thprojectthetwocompanieshavepartneredon.
PEGLPCEOMikeGarlandaddsthattheprojectwillbeamongthefirstintheTexasPanhandletoutilizeTexas' newcompetitiverenewableenergyzone (CREZ) transmissioninfrastructure. Healsosaystheprojectwillhelpboosttheregion’seconomy.
"ThisprojectwillprovidemultiplebenefitstoCarsonCountyanditsresidents, includingmorethan200constructionjobs, atleast12permanentoperationsandmaintenancepositions, andcleanenergyforupto60,000Texashomeswithoutusinganyoftheregion'slimitedwatersupplies,” commentsGarland.