Invenergy has acquired the 231MW Changing Winds onshore project in Texas from Tri Global Energy and local community owners for an undisclosed price.
Tri Global Energy has been the exclusive developer and a manager of Changing Winds since the project’s origination in 2011.
The project is located on about 10,117 hectares of leased land in Castro County.
Under a proprietary business model developed by Tri Global Energy, called the Wind Force Plan, local landowners and community investors also had the opportunity to partner with the company on ownership.
Tri Global chief executive John Billingsley said: “Community-sponsored wind projects generate local participation and investment in local communities
“Through our partnerships with the local community managers and more than 180 landowners and community investors participating in the Changing Winds project, we’ve been able to work together to bring about a high level of local support and realize the many benefits that wind energy delivers to Texas and the country.”
“Given the depth of experience and capability at Invenergy, we expect that Invenergy will help the Changing Winds project deliver on its promise to positively impact the local community economies through tax revenues, generate a substantial rate of return to local community investors and to generate a second source of income through wind royalties for farmers and landowners.
“We are very proud to develop wind projects that not only benefit the environment by generating renewable energy, but also support and contribute to the communities where they are located.”