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Longroad secures funds for 243-MW wind farm in Texas, welcomes new investors

Wind turbines in Texas. Photo by: Xcel Energy (www.xcelenergy.com).

July 10 (Renewables Now) - US renewables developer Longroad Energy Holdings LLC has started building a 243-MW wind farm in Texas after reaching financial close on the project.

The company announced the milestone on Tuesday and introduced Danish pension funds PKA and PenSam, represented by their investment manager AIP, as long-term investors in the El Campo project. BHE Renewables provided tax equity, while project debt was extended by a consortium led by KeyBank NA.

To be located in Texas’ Knox County, the wind farm will be installed at a total cost of around USD 335 million (EUR 299m). Consisting of 67 Vestas turbines ranging between 2 MW and 4.2 MW each, it is scheduled to become operational by July next year. The project already has in place a power purchase agreement (PPA) for 83 MW with DaVita Inc, while 111 MW of its output will be sold to Crown Holding.

Mortenson Construction will be in charge of the engineering, procurement and construction (EPC) works. Longroad Energy Services, an affiliate of Longroad, will provide construction management, asset management, operations and maintenance and remote monitoring services for 20 years.

(USD 1.0 = EUR 0.892)

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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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