Lincoln Clean Energy (LCE) – a portfolio company of infrastructure investment manager I Squared Capital – has committed 100% of the sponsor equity for the Amazon Wind Farm Texas, a 253 MW facility in Scurry County, Texas.
The facility will use 110 GE turbines to generate more than 1 million MWh of power annually, says LCE. Amazon will purchase 90% of the output over a long-term contract.
The $360 million project will receive construction financing from MUFG as coordinating lead arranger and Bank of America Merrill Lynch as mandated lead arranger. Bank of America Merrill Lynch and GE Energy Financial Services will invest in long-term tax equity for the project. BayernLB will provide letter of credit facilities after construction completion.
“We look forward to starting construction at Amazon Wind Farm Texas, as well as working with I Squared Capital on a pipeline of more than 1,000 MW of advanced-stage development projects across Texas and the Midwest,” commented Declan Flanagan, founder and CEO of LCE.
The project is expected to be completed in October 2017.