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E.on gets GE tax equity for 258-MW wind repowering in Texas

2-MW GE wind turbine.

September 25 (Renewables Now) - German energy group E.on SE (ETR:EOAN) said on Tuesday it has obtained over USD 200 million (EUR 181.9m) in tax equity financing to repower its 258-MW Panther Creek I and Panther Creek II wind farms in Texas.

GE Energy Financial Services has underwritten and committed a portion of the tax equity, thus enabling E.on to extend the lifetime and capacity factor of the two power plants. The repowering project envisages the replacement and installation of new drive trains and an upgrade of the 172 GE 1.5-MW turbines with longer rotors.

The repowered power plants are expected to become operational in December. The two facilities, located in Howard and Glasscock and Glasscock and Sterling counties, respectively, have been generating electricity since 2008.

The Panther Creek I and Panther Creek II schemes are part of an over 1-GW portfolio of clean energy capacity that E.on plans to hook to the grid by end-2020, the company said.

(USD 1.0 = EUR 0.909)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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