Swift Current Energy says its 197 MW Castle Gap Wind project, located in central Texas, is now operational and providing power to Target Corp.
Target is purchasing power from the project under a long-term virtual power purchase agreement.
Goldman Sachs provided the tax equity for the project, which is producing enough energy to power more than 50,000 homes annually. Mitsubishi UFJ Financial Group and CaixaBank provided project financing.
“Castle Gap Wind is a momentous project for Swift Current Energy as we grow our projects under asset management and operations,” says Eric Lammers, CEO and co-founder, Swift Current Energy. “Castle Gap Wind is one of the earliest projects supported by the Inflation Reduction Act, and we are thankful for our partners at Target, Goldman Sachs, MUFG, CaixaBank and of course the entire Swift Current Energy team who helped make the project possible.”
Swift Current will be the long-term owner/operator of Castle Gap Wind.
Vinson & Elkins LLP and Husch Blackwell LLP represented Swift Current Energy in the project financing transactions. Latham & Watkins LLP represented MUFG and CaixaBank. O’Melveny & Myers LLP represented Goldman Sachs. Jackson Walker LLP represented each of MUFG, CaixaBank and Goldman Sachs with respect to Texas law matters.