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Lincoln Energy obtains funds for 300-MW Texas wind scheme

GE wind turbine. Source: General Electric. All rights reserved.

January 12 (Renewables Now) - US wind and solar developer Lincoln Clean Energy (LCE) has secured financing for a 300-MW wind farm in the state of Texas, it said on Thursday.

The company, part of infrastructure investor I Squared Capital, has secured construction and term financing for the Tahoka wind project from Morgan Stanley (NYSE:MS) and also long-term tax equity from BHE Renewables LLC, a unit of Warren Buffett's Berkshire Hathaway Energy.

The 300-MW wind park will be installed in Lynn County, using 120 2.5-127 turbines by GE Renewable Energy. General Electric (NYSE:GE) subsidiary will provide long-term services for the facility.

Last year, LCE commissioned two other wind parks in Texas -- the 250-MW Willow Springs and the 253-MW Amazon plants. Together with the Tahoka wind farm, the facilities will generate about 3.3 million MWh of electricity annually, or enough to meet the demand of over 300,000 US households.

“With the uncertainty of tax reform behind us, the next three years are going to be big for renewables and LCE is well-positioned to execute on more than 1,000 megawatts of advanced-stage development projects across Texas and the Midwest ,”commented Declan Flanagan, founder and CEO of LCE.

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Veselina Petrova is one of SeeNews Renewables 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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