Fiber Winds Energy will supply electricity to approximately 24,000 American homes.
DALLAS, Texas, January 13, 2014 – On December 30, 2013 Alstom Power, Inc. and Tri Global Energy, LLC entered into a turbine supply agreement1 under which Alstom will supply 4 ECO110 and 25 ECO122 wind turbines and provide 10 years of service and maintenance for the 80 MW Fiber Winds Energy project near Lorenzo and Ralls, Texas. This agreement, achieved prior to December 31, 2013 secures a “safe harbor” position on the Production Tax Credit (PTC) for Fiber Winds Energy.
Following a financial closing, construction of the project is expected to begin in mid-year 2014, with commercial operations scheduled to commence in 2015. Tri Global Energy recently acquired 100% ownership of Fiber Winds Energy and intends to be the plant operator, providing local employment and services, expanding upon the original Tri Global Energy business model as a community developer for local landowners and investors.
“During the first 30 years following the commencement of commercial operations, Fiber Winds Energy is expected to pay $39 million in wind royalties to local landowners and community investors. It is also projected to pay $15 million in local school, county and hospital ad valorem taxes during this same period”, said John B. Billingsley, CEO of Tri Global Energy, LLC.
Andy Geissbuehler, Head of Alstom’s North American Wind Business said, “The Fiber Winds contract is a sign of continued progress and demonstrates our commitment to the U.S. wind market. We look forward to working with Tri Global Energy to build successful projects that increase U.S. energy production capacity through clean, proven wind power, as demonstrated by the Fiber Winds project, which will reduce carbon emissions by 248,400 metric tons per year”.
1 Financial close is planned for summer 2014.
Alstom is a global leader in the world of power generation, power transmission and rail infrastructure, setting the benchmark for innovative and environmentally friendly technologies. Alstom builds the fastest train and the highest capacity automated metro in the world, provides turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, nuclear, gas, coal and wind, and it offers a wide range of solutions for power transmission, with a focus on smart grids. The Group employs 93,000 people in around 100 countries. It had sales of over €20 billion and booked close to €24 billion in orders in 2012/13.
About Tri Global Energy
Tri Global Energy, LLC is currently developing utility-scale community wind power projects throughout West Texas and Eastern New Mexico. The company has 15 projects in its wind energy portfolio, representing more than 600,000 acres of wind resource sites that are under development to generate 6,200 MW of wind energy, enough to provide the annual electricity consumed by 1.8 million American homes. Several are in the late stages of development that include the completion of wind resource studies, permitting, and early construction. Experts have identified Tri Global Energy wind power projects as having some of the best wind resources in the U.S. Tri Global projects are also near the geographic intersection of three major transmission interconnections that serve customers across the country.