Lincoln Clean Energy (LCE), a portfolio company of I Squared Capital, has closed financing for its Tahoka Wind project, a 300 MW facility in Lynn County, Texas.
GE Renewable Energy will supply the project with 120 of its 2.5-127 wind turbines and provide long-term services. The project will receive construction and term financing from Morgan Stanley, as well as long-term tax equity from BHE Renewables LLC, a wholly owned subsidiary of Berkshire Hathaway Energy Co.
“The successful financing of this project underlines the competitiveness of U.S. wind power,” comments Declan Flanagan, founder and CEO of LCE. “With the uncertainty of tax reform behind us, the next three years are going to be big for renewables, and LCE is well-positioned to execute on more than 1,000 MW of advanced-stage development projects across Texas and the Midwest.”
“I Squared Capital is proud to be at the forefront of the transition to renewable energy in the United States,” adds Adil Rahmathulla, a director of LCE and partner at I Squared Capital. “Combined with the recently commissioned Amazon Wind Farm Texas and Willow Springs Wind Farm, LCE will generate approximately 3.3 million MWh of renewable energy per year, or enough to power the equivalent of over 300,000 U.S. homes.”
LCE says it now has 813 MW of wind and solar power either in operation or under construction.
