Additionally, Westerly South Plains signed an agreement with a subsidiary of First Wind, which will acquire, construct and operate the project.
Tri Global Energy formed The Floyd County Wind Farm in 2010 under the company’s Wind Force Plan where local landowners, community investors, managers and Tri Global owned the projects.
Tri Global Energy CEO John Billingsley said Tri Global Energy is pleased with the Floyd County Wind Farm sale and the resulting financial gains that the local landowners and community investors will receive.
"The success of the Floyd County Wind Farm was the result of the support and effort the many landowners, local investors and community leaders and especially the hard work of Floyd County managers, Larry Bramlett and Keith Billington," Billingsley added.
Although the terms of the sale were undisclosed, Billingsley said that the Floyd County Wind Farm landowners and community members stand to receive "millions of dollars of future wind royalties" and are "receiving a rate of return of several multiples of their cash investments".
"These wind royalties will provide a welcome supplemental income that will allow these local landowners to remain on their land and to pass this wind royalty down from generation to generation."
