US developer Leeward Renewable Energy has entered into an agreement with Tri Global Energy to acquire two renewables projects in Indiana totalling 580MW.
The deal comprises the acquisition of the 180MW Hoosier Line wind project and the 400MW Honey Creek solar project.
The wind and solar power projects, located in White County in north western Indiana, are planned to be operational as early as 2023.
They represent the first deal between the two Dallas-based companies and the first renewable project sales for Tri Global Energy in Indiana.
Leeward already owns and operates a portfolio of approximately 2GW of generating capacity.
“Hoosier Line Wind and Honey Creek Solar represent a significant milestone for TGE, our first expansion to Indiana,” said Tri Global Energy CEO John Billingsley.
“We couldn’t be more excited to begin a new relationship with Leeward, whose leadership shares our commitment to develop and expand clean energy and to invest in the advancement of local communities.”
Since the origination of these projects in 2019, Tri Global Energy has been the project developer. The company will continue as a co-development partner under the sale arrangement with Leeward Renewable Energy.
Together the two projects will be sited on land owned by 50 landowners.
PJM utility interconnection and environmental studies are currently underway.
Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management and Altius Renewable Royalties is providing royalty financing in support of Tri Global Energy completing and funding these projects’ development through the start of construction.