Alterra Power Corp. and Starwood Energy Group Global LLC have announced the commencement of commercial operations and funding of tax equity for the 204 MW Shannon wind farm, located in Clay County, Texas. The companies own the sponsor interests in the wind farm under a 50/50 affiliate partnership.
Mortenson Construction's wind energy group provided engineering, procurement and construction services, and GE supplied 119 wind turbines, each with a 1.71 MW output and 103-meter rotor diameter. GE also will provide operations and maintenance services for the turbines under a long-term contract. The majority of the project's output will be sold under a 13-year power purchase agreement with Citi.
Concurrent with commercial operations, subsidiaries of Citi and BHE Renewables have completed a tax equity investment of $219 million into the project, and proceeds were used primarily to retire the project's construction loan facility.
‘We're excited that the Shannon project is now operating at full capacity, delivering clean power in Texas,’ says Jon Schintler, vice president of project finance at Alterra. ‘I'd also like to thank Mortenson, GE and all of our teams for helping deliver this project on time and on budget, and welcome our new partners in the project, Citi and BHE Renewables.’
‘The completion of Shannon represents an important milestone for Starwood's growing wind franchise. We are grateful to have an excellent partner in Alterra and look forward to continued success for this project,’ adds Alex Daberko, vice president of Starwood Energy.
