RWE Renewables has completed the tax equity financing of its 151 MW Peyton Creek Wind Farm in Matagorda County, Texas.
A subsidiary of Bank of America provided the financing for the project, which achieved commercial operation and closing of tax equity in the first quarter of the year.
“Our successful financing of this project showcases our commitment to the development of wind energy,” says Silvia Ortin, COO of onshore wind at RWE Renewables.
“With this tax equity deal for our Peyton Creek Wind Farm, we are proud to be furthering our investment in the U.S., one of our main strategic markets where we are determined to continue our growth in renewables,” adds Ortin.
At its peak, a team of approximately 170 construction workers were on-site to complete the project. Ten personnel, including skilled technicians, will be stationed on-site day-to-day during operations. During the next 30 years, Peyton Creek is projected to generate more than $30 million in property taxes for Matagorda County. This additional revenue will support essential county services and local schools.
Peyton Creek is equipped with 48 Nordex 3.15 MW turbines.
Photo: The Peyton Creek Wind Farm in Matagorda County, Texas