Falvez Energy has closed construction financing on the Falvez Astra Wind Project in Texas – the company’s first utility-scale wind project – from GE Energy Financial Services.
Additionally, GE Energy Financial Services and BNP Paribas SA will each provide 50% of the long-term tax equity for the project.
The 163 MW project is located in the Texas Panhandle in Randall, Castro and Deaf Smith Counties (approximately 30 miles south of Amarillo). The project property comprises roughly 11,000 acres of land historically used for ranchland and agricultural purposes. The area is considered to be in the western part of the Competitive Renewable Energy Zone in Texas.
The energy from the 68 GE 2.4-107 wind turbines will be transmitted through a new 14-mile, 345 kV transmission line to the Sharyland Utilities Windmill Substation and via the Electric Reliability Council of Texas.
The day-to-day operations and maintenance of the project will also be provided by GE under a 10-year, full-service agreement.