Swift Current Energy has closed project financing for the 197 MW Castle Gap Wind project, located in Mills and Lampasas counties, Texas. The wind project is currently under construction and is expected to commence operations in early 2023.
Mitsubishi UFJ Financial Group (MUFG) and CaixaBank acted as joint coordinating lead arrangers and green loan structuring agents. MUFG served as the administrative and collateral agent.
Swift Current Energy will be the long-term project owner and operator.
“As the developer and long-term owner of Castle Gap Wind, Swift Current Energy is pleased to reach this project financing milestone with sophisticated partners who have financed renewable energy projects around the world,” says Eric Lammers, CEO and co-founder of Swift Current Energy. “Our leading execution group is advancing this project through construction, and we are on track to start contributing needed energy to the Texas grid by early 2023.”
Nordex Group is supplying the wind turbines for the project. IEA Constructors, a renewable energy engineering, procurement and construction provider, is managing the construction of the project.
Castle Gap Wind is Swift Current Energy’s second large-scale wind development in Texas; the company developed and commercialized the 550 MW High Lonesome Wind project in Crockett and Upton Counties in 2019.