Tri Global Energy, a Dallas-based originator and developer of utility-scale wind energy projects, has announced the sale of assets of the 80 MW Fiber Winds Energy Project to NextEra Energy Resources LLC.
The wind farm, located in Crosby County, Texas, is situated next to Lorenzo Wind, a wholly owned subsidiary of NextEra Energy Resources LLC. As part of an agreement announced in March, NextEra will sell 230 MW, which includes the Fiber Winds energy production, under a long-term power purchase agreement with Xcel Energy.
Through its 1,230 MW Texas-New Mexico wind energy initiative, Xcel Energy also will acquire other development assets from NextEra, including the 478 MW Hale Wind Energy Project, another wind farm originated and developed by Tri Global Energy.
“Like many other wind energy projects in West Texas, Fiber Winds has provided substantial economic impact to the local host area,” says John Billingsley, chairman and CEO of Tri Global Energy, “and that includes funds from additional tax revenue, landowner royalties and other contributions, such as the creation of local jobs.”
Located on 10,500 leased acres of privately owned farm land, Fiber Winds Energy represents the second phase of the Crosby County Wind Farm, a community-sponsored wind development initiated by Tri Global Energy in 2009.
Since that time, Tri Global Energy has been a manager and member and the exclusive project developer of Crosby County Wind Farm, whose first phase was placed into operation in 2014 and whose third phase qualified for the federal production tax credit in 2016. Operations are planned by the end of 2020.
“Wind energy projects – in addition to Texas’ significant investments in transmission infrastructure, solar and fossil resources, and a supportive business environment – contribute to West Texas’ ability to lead in all forms of energy generation,” comments Congressman Jodey Arrington, R-Texas, who represents District 19 and Crosby County.