The El Campo wind farm will be powered by 67 of Vestas turbines which could range between the sizes 2MW to 4.2MW each
Image: The wind farm will be built by Mortension under an engineering, procurement and construction (EPC) agreement. Photo courtesy of Free-Photos from Pixabay.
Longroad Energy, a US-based renewable energy developer has achieved financial closure and has started construction of the 243MW El Campo wind farm in Knox County, Texas.
The financial closure for the project has been reached through support from PKA and PenSam, two Danish pension funds, who became long-term investors alongside Longroad.
Being built at a cost of about $335m (£268.8m), the wind farm could begin commercial operations by next July, the company said.
The El Campo wind farm will be powered by 67 of Vestas turbines which could range between the sizes 2MW to 4.2MW each and it will be built by Mortension under an engineering, procurement and construction (EPC) agreement.
During the construction phase, the wind farm will generate nearly 200 temporary jobs and eight permanent jobs, once operational. It will also contribute nearly $20m (£16m) in property taxes to the Benjamin Independent School District, Knox County, Knox County Hospital District, and other local taxing authorities.
Longroad Energy CEO Paul Gaynor said: “Longroad is pleased to bring this deal through this crucial step and to partner with PKA and PenSam through AIP. We are proud of our track record in developing, financing, constructing, owning and operating well-structured renewable assets in the US. This approach appealed to AIP and its investors; and the investment in El Campo is a great first step to take with our new partners.
“It’s great to be able to work with high caliber groups such as PKA, PenSam, and AIP. We hope this is the first of many partnerships with this team in the US.”
El Campo wind farm is supported by two corporate PPAs
The El Campo wind farm is supported by two corporate power purchase agreements (PPAs). DaVita has signed a PPA to buy 83MW capacity from the wind farm and Crown Holdings will buy another 111MW.
PKA chief investment officer Michael Nellemann Pedersen said: “The El Campo wind farm is our second sizeable investment in renewable assets in the US within a year and it represents yet another important addition to our ambitious green investment strategy.
“We are delighted to partner with an experienced renewable energy developer like Longroad Energy and we are optimistic about extending the partnership even further in the future.”