Allegiance Capital will provide ongoing oversight services for both projects. The company said that the capital and development support will be instrumental in taking the projects from their current greenfield state to construction ready state. Development has begun and the plants are expected to be in production by 2014.
Fred McCallister, vice president at Allegiance Capital, said: “Energos is highly experienced in renewable energy development. It was a pleasure working with an investor who understands the risks as well as the opportunities of wind power development and takes a long-term view of the investment.”
Antonio Garcia Alcalde, chief operating officer of Energos, said: “We are very excited about the Arranz Wind Caprock I and the Arranz Wind Tuxedo I projects. We understand that a long-term perspective must be taken on these projects given the current lack of transmission lines; but, we also believe that with the area’s excellent wind resources and Texas’ leadership role in transmission development, these projects are excellent long-term investments for our company.”
Allegiance Capital has closed four renewable energy transactions in the past 18 months and currently has several engagements in the renewable energy and electrical transmission and distribution sectors.
