RES has agreed to jointly develop an approximately 480 MW wind farm in Texas with Algonquin Power & Utilities Corp.
The Maverick Creek Wind Project will be located in central Texas in Concho County. It is financed through a 15-year virtual power purchase agreement with General Mills.
Construction of the project is expected to begin this September, creating nearly 175 jobs during peak construction. Once completed in late 2020, the wind farm will generate renewable energy to power approximately 168,000 homes annually.
The project was originally developed by Roaring Fork Wind LLC, a joint venture between RES and Steelhead Americas, Vestas’ development arm in North America. CIBC Capital Markets acted as exclusive financial advisor to Roaring Fork LLC as part of the transaction.
“We are pleased to partner with Algonquin on the Maverick Creek project,” says Graham Reid, CEO of RES in the Americas. “This project is a clear demonstration of our mutual commitment to a sustainable future and growing the economy through renewable development.”