Ecofin US Renewables Infrastructure Trust is to buy the 60MW Whirlwind wind farm in Texas for $49m.
The company said that the contractual commitment will be funded by a combination of the remaining net proceeds from an IPO and from a newly established revolving credit facility.
Whirlwind has been operational since December 2007 and features 26 Siemens Gamesa 2.3MW turbines.
It benefits from a fixed-price power purchase agreement with an investment grade electric utility with over six years remaining on the initial contract term, providing predictable cash flow, Ecofin US said.
The company added that with the inclusion of Whirlwind, its portfolio will have a weighted average remaining revenue contract term of approximately 17 years.
Whirlwind will also provide additional diversification to the company’s existing solar portfolio in terms of technology, its proven wind resource, and location in the central US.