September 27 (Renewables Now) - Scout Clean Energy LLC, a portfolio company of clean energy investor Quinbrook Infrastructure Partners, has closed the construction financing and tax equity commitments needed for a 180-MW wind project in Texas.
The Heart of Texas wind park will be built in Texas’ McCulloch County and is planned to be switched on by April 2020, Quinbrook said on Thursday. The project has been developed through the final permitting stages and has in place a long-term offtake contract with Allianz Global & Specialty Inc’s alternative risk transfer unit, in partnership with Nephila Climate. It will be equipped with 64 units of General Electric’s (NYSE:GE) 2-MW platform turbines.
Scout has selected RES Americas, the project's original developer, for the balance of plant works.
The USD 255 million (EUR 233.3m) of construction financing for the scheme, including letters of credit, is being provided by a group of lenders including KeyBank, Rabo Bank and Co-Bank. GE Energy Financial Services led the underwriting of tax equity financing.
Quinbrook and Scout were advised in the financing deal by McDermott Williams and Emory LLP, Holland and Hart and Paragon Energy Advisors.
(USD 1.0 = EUR 0.915)