Alterra Power and Starwood Energy Group Global have started commercial operations and funding of tax equity for the 204MW Shannon wind project in Texas.
The project was constructed under an EPC contract with Mortenson Construction’s wind energy group.
GE supplied 119 1.71MW turbines and will provide operations and maintenance services under a long-term contract.
The majority of the project’s output will be sold under a 13-year contract with Citi.
Alterra and Starwood Energy own the sponsor interests in the project under a 50/50 affiliate partnership.
Subsidiaries of Citi and BHE Renewables have completed a tax equity investment of $219m in the project.
The proceeds were used primarily to retire the project’s construction loan facility.
Image: GE turbines (GE)
