Tri Global Energy is to sell the 360MW Canyon wind farm in Texas to Silverpeak, an alternative investment firm focused on real estate, energy and credit, for an undisclosed price.
The project was originated by Tri Global Energy through its proprietary community sponsorship business model the Wind Force Plan and the company will maintain its role as lead developer through project financing and construction.
Canyon will be located on 15,378 hectares of farm and ranch land owned by nearly 150 participating landowners.
Tri Global Energy chief executive John Billingsley said: “Among West Texas’ greatest assets are world-class wind and the many benefits wind energy brings to the region.
“We are excited about reaching this new milestone for our Canyon wind energy project.
“We look forward to an active partnership with Silverpeak. Texas continues to be a great place to do business for the development of the growing clean energy pipeline.”
Silverpeak managing partner and renewables group head Santosh Raikar said: “It is a pleasure to partner with Tri Global, an experienced renewable energy developer that has already brought value to the project.
“We are particularly excited about this development being situated on the ‘right’ – or eastern – side of ERCOT West, which is devoid of transmission congestion that could affect the pricing and return for producing reliable, economical, and eco-friendly electric power.”