EDF Renewable Energy today (Nov,4 2013) announced it has reached an agreement with Renewable Energy Systems Americas Inc. (RES Americas) to acquire the 200 megawatt (MW) Longhorn Wind Project in Texas.
Construction is expected to commence later this year in order to qualify the project for the Production Tax Credit (PTC).
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The project encompasses approximately 14,000 acres in Floyd and Briscoe Counties, 60 miles northeast of Lubbock, Texas, and will take advantage of the CREZ (Competitive Renewable Energy Zone) transmission lines connecting the wind generating capacity of the Texas Panhandle to high electricity demand areas in the state.
“Longhorn represents our third wind project acquisition in the Texas Panhandle this year, and brings EDF Renewable Energy’s near-term capacity under either late-stage development or construction in the area to 561 MW, including the previously announced Hereford and Spinning Spur II transactions,” said Ryan Pfaff, Executive Vice President of EDF Renewable Energy.
“We are pleased to be working with EDF Renewable Energy to bring additional wind energy to the Texas grid,” said Tom Hiester, Senior Vice President of Development with RES Americas. “Longhorn is another example of significant investment occurring because of the Production Tax Credit for wind energy, and it speaks to the criticality of maintaining this important tax incentive.”
EDF Renewable Energy has also secured a long-term, fixed-price hedge agreement for the expected energy production of the project. RES Americas will construct the project under a balance-of-plant construction contract.
Source: RES Americas
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