The initial phase of 197.6 MW of the Bearkat Wind Energy Project in Texas has reached financial close, received funding and begun construction, Dallas-based Tri Global Energy (TGE) has announced.
Located on 30,000 leased acres of privately owned farm and ranch land in Glasscock County, Bearkat is now owned by a fund managed by Copenhagen Infrastructure Partners (CIP), based in Denmark.
TGE developed Bearkat using its proprietary business model, the Wind Force Plan, which allows local landowners and community investors the opportunity to partner with and have a substantial ownership in wind farms being leased on their land.
“We are very pleased to collaborate with CIP on this project and support them in achieving this important milestone,” comments John Billingsley, chairman and CEO of TGE. “We look forward to supporting CIP on subsequent phases of the Bearkat Wind Project and expanding our relationship with them on several other community-sponsored, utility-scale renewable energy project developments.”
Since founding the Bearkat community-sponsored wind energy project in September 2012, TGE has been the exclusive project developer. In July 2016, CIP purchased Bearkat and another TGE wind development, Blue Cloud Wind Energy. TGE’s wind division owns and develops utility-scale wind projects in Texas and New Mexico.
“Community-focused development, coupled with Texas’ significant investments in infrastructure; abundant wind, solar and fossil resources; and supportive business environment contribute to our national leadership in all forms of energy generation,” states Congressman Mike Conaway, R-Texas, who represents Glasscock County. “Wind energy projects like these positively impact local economies through job creation and increased tax revenues.”
