US renewable energy developer Scout Clean Energy has completed construction and successfully closed tax equity funding for the 180MW Heart of Texas wind farm.
The project is located in McCulloch County, Texas, and features 64 GE 2MW platform turbines, made up of three different models.
RES Americas carried out construction, which was completed on time and under budget.
Asset management and post-construction operations will be undertaken by Scout.
Heart of Texas has an offtake contract with Allianz Global Corporate & Specialty’s Alternative Risk Transfer unit, in partnership with Nephila Climate.
REsurety provided the risk analytics supporting the long-term offtake transaction.
Construction financing of $255m, including letters of credit, was provided by KeyBank as administrative agent, Rabobank and CoBank, ACB.
GE Energy Financial Services and BHE Renewables invested tax equity financing.
Scout is a portfolio company of Quinbrook Infrastructure Partners.
Scout Clean Energy chief executive Michael Rucker said: “Heart of Texas was completed on time and under budget which is quite an achievement given the wide-spread disruption that COVID-19 has caused across the entire US economy.
“It is a real credit to Scout’s construction management team, our suppliers, contractors and financiers who have worked tirelessly to get to the finish line.
“Reaching commercial operations at Heart of Texas brings Scout’s operational portfolio of wind energy generation to 698MW with a further 146MW under construction and more than 4000MW in our active development pipeline.”